Dallas Mortgage Refinance: Dallas Mortgage Rates Reach Record Lows

Dallas Mortgage Refinance: Texas Mortgage Rates Reach Record Lows

Dallas mortgage rates dropped to new lows after the latest round of gloomy economic data hurt Treasury yields, according to Freddie Mac’s weekly survey of mortgage rates.

Mortgage rates tend to follow Treasury yields, which have fallen after data showed the U.S. economy grew a much weaker-than-expected 1.3% in the second quarter while first-quarter growth was cut to less than a quarter of what was originally reported. Take advantage or record low Dallas mortgage rates! Give us a call today! 972-325-2120

“In fact, the first half of this year was the worst six-month period since the economic recovery began in June 2009,” said Frank Nothaft, Freddie’s chief economist. The news sent 15-year fixed and five-year adjustable-rate loans to historic lows, the mortgage-finance agency said. On the other hand, Mr. Nothaft said “there were indications that the housing market is firming.”

The 30-year fixed-rate mortgage averaged 4.39%, for the week ended Thursday, down from 4.55% the previous week and last year’s rate of 4.49%, setting a new low for the year. Rates on 15-year fixed-rate mortgages averaged 3.54%, down from 3.66% last week and 3.95% a year earlier. http://online.wsj.com/article/SB10001424053111903366504576488131589553662.html

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