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 »

Today’s Texas 30 year fixed rate

30-Year Fixed Mortgage Rate 6.375% 6.987%
20-Year Fixed Mortgage Rate6.75% 7.060%
15-Year Fixed Mortgage Rates 6.00% 6.631%

Austin Texas Jumbo Loans Home Loans

30-Year Fixed 8.250% 8.418%
15-Year Fixed 7.750% 8.009%

Remember, mortgage rates tend to go up when there is positive economic news and down with negative economic news.  

Was I the only one who filled my tank up on concerns over fuel prices?   Fortunately, Gustav didn’t cause near the damage that Katrina did.  

And the overall market tone is postive.   This is why mortgage rates opened up .125% over Friday.

PHONE:  512-996-8914, www.mylendingplace.com

http://mylendingplace.com/mortgage/rates/30-year-fixed-rates/

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