Austin House/Mortgage Blog

Mortgage Refinance Rates Texas | Austin, Texas | Home Equity Loan Refinance

Today’s mortgage rates (Austin, Texas) are down this week.    The currrent 30 year mortgage rate is 5.875% and today’s 15 year mortgage rate is 5.5%.  In the past month the 30 year rate has gone bounced between 5.5%-6%.

40-Year Fixed 6.375% 6.573%
30-Year Fixed 5.875% 6.099%
20-Year Fixed 5.875% 6.174%
15-Year Fixed 5.500% 5.873%
5-Year ARM 5.375% 5.593%
Austin Jumbo Home Loans – Amounts that exceed conforming loan limits of $417,000
40/30 Fixed-Rate Balloon 7.500% 7.647%
30-Year Fixed 7.125% 7.282%
15-Year Fixed 6.250% 6.498%
If you’re considering a home equity loan refinance (to consolidate debt into one single payment) rates are much better than even the best credit card rate.   My typical cash out home loan client saves around $400/month-$600.    Then I suggest they take ½ of the savings and take their 30 year mortgage to a 15 year.  Saves a ton.

Mortgage Application (click) free, and no-obligation.    Complete this 4 minute application out and get a rate free rate or refinance quote.

 By the way, I’m looking for this kid’s grandmother…she’s going to need a loan to repair her grandson’s field day.     http://youtube.com/watch?v=GLeVlBca5lg
One reason why mortgage rates are down is the stock market went down.  
 A good way to predict which way mortgage rates will go is to simply look at the current financial market.  When the stock market goes up, mortgage rates generally go up. 
When there is bad economic news,  and the stock market goes down; mortgage rates follow.   http://biz.yahoo.com/ap/080516/wall_street.htmlHousing Market seems to be stabalizing. 
This is positive news: http://biz.yahoo.com/ap/080516/economy.html 
If you would like more mortgage rate predictions just email me at jon@mylendingplace.comhttp://www.bloomberg.com/markets/rates/
 

This entry was posted on Friday, May 16th, 2008 at 12:20 pm and is filed under Mortgage Refinance Rates Texas.You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.