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 Austin Current Mortgage Rates | Austin, Texas

30-Year Fixed Mortgage 5.75% 6.099%
20-Year Fixed Mortgage 5.750% 6.048%
15-Year Fixed Mortgage 5.625% 5.999%

Texas Jumbo Home Loans

30-Year Fixed Jumbo 8.500% 8.671%
15-Year Fixed Jumbo 7.750% 8.009%

Mortgage rates went down dramatically today when the Federal Government will take over Fannie Mae/Freddie Mac. 

 If you are looking at property or want to refinance (home equity loans Texas) now may be a great opportunity.

The 15 year mortgage rate is 5.25% whereas last week it was in the 6.00% range.   Read the rest of this entry »