Dallas Mortgage Refinance: Should you refinance your 30-year fixed mortgage to a 15-year fixed mortgage?

Dallas Mortgage Refinance: Should you refinance your 30-year fixed mortgage to a 15-year fixed mortgage?

A growing number of homeowners are choosing to pay down their mortgages at a faster rate by choosing to refinance their existing 30-year fixed mortgage to a 15-year fixed mortgage rate. The average rate for 15-year fixed mortgage is 3.78%

What’s prompting the shift to shorter loans? Maybe it’s the current record low interest rates for fixed-rate mortgages. Homeowners seem to be doing the math and realizing that rates have fallen low enough… making the increase in their payment between a new 15-year fixed mortgage and their current 30-year fixed mortgage no longer out of their financial means.

Should you refinance your current 30-year fixed to a 15-year fixed? Interested in taking advantage of the current record low mortgage rates? Give us a call today! We’re a local Dallas mortgage lender that can offer you the best mortgage rates with the lowest closing costs! 

Dallas:  972-325-2120     Houston:  713-589-2244     Austin:  512-996-8194

Dallas Mortgage Refinance Rates as of 09/15/2010 
Mortgage Rates                                           Interest Rate APR 
Texas Conforming Home Loans and FHA Home Loans: 
30-Year Fixed Mortgage Rates              4.375%    4.559%
30-Year Fixed FHA Mortgage Rates   4.500%    5.233%
15-Year Fixed Mortgage Rates              3.750%    4.069%

Austin Refinance  | Dallas Refinance  | Houston Refinance  | El Paso Refinance