How are mortgage rates determined?

The best way to get today’s mortgage rates is to just call us at 512-996-8194.

 Mortgage rates are constantly changing and this makes it difficult when one is buying or refinancing a home.  So how are mortgage rates determined?

 There are really two pieces to mortgage rates.   First, everyday there is a general market price for loans.   This is how Wall Street or “the open market” prices mortgage backed-bonds.

Secondly, there is how your local lender/mortgage broker takes the Wall Street open market rates and offers them to the public.

 The purpose of this article is to discuss how your local lender or bank determines the rate for your specific home loan.     Read the rest of this entry »

Austin, Texas Current mortgage rates:

Today’s mortgage rates are slightly higher today.   Yesterday they went down briefly and now they are back up.  Today’s 30 year mortgage rate is 6.625% and the 15 year mortgage rate is 6.125%.  If you are interested in a no-PMI loan or an 80/10/10 or 80/15 please call us today.

Phone:  512-996-8194

Mortgage Refinance Home Equity Loan Application

 30-Year Fixed 6.625% 6.860%
20-Year Fixed 6.625% 6.933%
15-Year Fixed 6.125% 6.505%
5-Year ARM 6.250% 6.018%

Austin Texas Jumbo Home Loans –(or we can do an 80/15 or 80/10 loan to avoid PMI and get better rates)
30-Year Fixed 8.375% 8.545%
15-Year Fixed 7.875% 8.135%
10-Year ARM 8.250% 7.555%
5-Year ARM 7.000% 6.242% Read the rest of this entry »