Today’s Current Mortgage Refinance Rates| Austin Texas Home Loans | May 12, 2008

Today’s 30 year mortgage rate is 5.875%-6.00% depending on your credit. Today’s 15 year mortgage rate is 5.375%.

Home Equity loans (Texas)have slightly higher rates than traditional rates, however with mortgage rates in the 6% range; this may be a great time to consolidate your high interest-debt with a home equity loan. This allows you to reduce the amount you pay each month. My average client saves over $400/month when they consolidate their debt using a home equity loan.  

We also offer 20 year mortgage rates and today’s 20 year rate is also 5.875%

40-Year Fixed Mortgage 6.375% 6.573%
30-Year Fixed Mortgage 5.875% 6.099%
20-Year Fixed Mortgage 5.875% 6.174%
15-Year Fixed  Mortgage 5.375% 5.746%

Texas Mortgage Application (secure mortgage application)

Austin Texas Jumbo Mortgage– Amounts that exceed conforming loan limits $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%
10-Year ARM 7.625% 6.975%
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