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 »

LAKE TRAVIS, AUSTIN TEXAS REAL ESTATE LAND FOR SALE

 96-acre Red Sky Ranch on the northern shore of Lake Travis west of the Travis-Burnet county line is being divided for sale.

Two of the four tracts of the ranch, south of the intersection of FM 1431 and Muleshoe Bend Trail, are being sold at auction July 26. Read the rest of this entry »

Austin Texas

Median home price: +6.4%

Unemployment: 3.6% (from 3.8%)

Key growth: Natural resources and construction, +5.1%; leisure and hospitality, +5.3%

One of the hippest cities in the country has one of the lowest unemployment rates. The Austin region is home to Dell, and many tech companies from Apple to Sun Microsystems also maintain a significant presence. One difference between “Silicon Hills,” as some call Austin’s tech sector, and Silicon Valley? In Austin, the median home price is still under $200,000.

http://www.forbes.com/2008/04/29/cities-recession-places-forbeslife-cx_jz_0429realestate_slide_2.html?partner=yahoore

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%
Read the rest of this entry »