http://www.businessweek.com/news/2011-10-27/mortgage-rates-in-u-s-hold-near-record-lows-freddie-mac-says.html

Dallas mortgage rates were little changed, keeping borrowing costs close to the lowest level on record as the housing market stagnates.

The average rate for a 30-year fixed loan declined to 4.10 percent in the week ended today from 4.11 percent, Freddie Mac said in a statement. The average 15-year fixed rate held at 3.38 percent, according to the McLean, Virginia-based mortgage- finance company.  

Buyers have been slow to take advantage of a drop in borrowing costs that sent the 30-year rate to 3.94 percent this month, the lowest level in Freddie Mac records dating to 1971. Sales of previously owned homes, which make up more than 90 percent of the market, fell 3 percent to a 4.91 million annual rate in September, the National Association of Realtors said Oct. 20. The median price slid 3.5 percent from a year earlier.

Interested in taking advantage of the record low Dallas mortgage rates? Give us a call today!  972-325-2120

“At this stage, the problem with the housing market is not rates,” said Millan Mulraine, senior U.S. strategist at TD Securities in New York. “The problem is potential homebuyers continue to sit on the sidelines while waiting for more attractive entry points for prices, and credit conditions continue to be tight.”

The Mortgage Bankers Association’s home-loan applications index rose 4.9 percent in the week ended Oct. 21 after plunging 15 percent in the previous period. The Washington-based group’s purchasing gauge rose 6.4 percent last week, and its refinancing index climbed 4.4 percent.

New-home purchases increased 5.7 percent in September to a 313,000 annual pace, figures from the Commerce Department showed yesterday. The median price slumped 10 percent from September 2010, the biggest drop in more than two years.

 If you’d like more information regarding a Texas refinance or a home equity loan please call us at 512-996-8194

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Texas FHA VA Mortgage Rates

Currently, Bank of America is advertising rates for 30-year fixed mortgages at  4.375%  BUT.. will charge you an additional .875%. Major lenders like Bank of America, Chase and Wells Fargo know that borrowers want low mortgage rates so they charge higher fees (additional points).

Why pay additional points if you don’t have to? We can get you the same low Dallas mortgage rates without charging additional points or fees. We’re “No Point” lender! View our closing costs here!

If you’d like more information regarding a Texas refinance or a home equity loan please call us at 512-996-8194

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Texas FHA VA Mortgage Rates

For weeks now we’ve been touting new record-low rates on 15 year and 30 year fixed mortgages. They’re floating around four percent, dipping below four when Europe explodes, then back just above four percent this week, as the stock market makes a turnaround. http://www.cnbc.com/id/44878219

Whatever the exact daily rate, the message is that the mortgage rates are a steal, and they should make home mortgage  refinancing and home buying a steal. Not so much. The problem is that these low rates are not going to the borrowers who need them the most, and even worse, these rates should actually be lower than they are.

“When there’s a rush of refinancers, lenders become flooded with volume and can adjust rates to slow their pipelines and increase margins,” says LendingTree Chairman and CEO Doug Lebda. “It becomes a matter of supply and demand, which unfortunately means borrowers are seeing higher rates than what’s being reported.” Lending Tree looked at spreads between the 10-year treasury rate and the average national rate on the 30-year fixed a few weeks ago, when rates were nearing record lows.

Interested in taking advantage of record low Dallas mortgage rates? Give us a call today! 972-325-2120

“The 10-year treasury rate was at 1.88 percent, while the average national [mortgage] rate was at 4.03 percent. An alarming 215 basis point spread (compared to the 153 average basis point spread seen over the past 10 years) means that the full benefit of these low rates aren’t getting to consumers.”

While mortgage volume is at historically low levels, there has also been a mass exodus of mortgage lenders from the market, partially due to new government compensation policies that went into effect last Spring. “It had the effect of driving some of the best and most qualified loan officers out of the business,” says Lebda. To make matters worse, the consumers who are getting the best rates are those who need those low rates the least.

If you’d like more information regarding a Texas refinance or a home equity loan please call us at 512-996-8194

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Texas FHA VA Mortgage Rates

Find Mylendingplace.com and their reviews on Yelp: http://www.yelp.com/biz/mylendingplace-com-mortgage-and-refinance-austin

Dallas fixed mortgage rates sank to record lows over the past week following the Federal Reserve’s decision to buy longer-term Treasurys, according to Freddie Mac’s weekly survey.

Interested in taking advantage of record low Dallas mortgage rates? Give us a call today! 972-325-2120

Freddie Mac Chief Economist Frank Nothaft said interest rates for adjustable-rate mortgages, however, were nearly unchanged due to the Fed’s plans to sell $400 billion in short-term Treasury securities and buy longer-term notes and bonds. Shorter-term securities serve as benchmarks for many adjustable-rate mortgages.

The Dallas 30-year fixed-rate mortgage averaged 4.01% for the week ended Thursday, down from 4.09% the previous week and 4.32% last year. Rates on Dallas 15-year fixed-rate mortgages averaged 3.28%, down from 3.29% last week and 3.75% a year earlier.

Five-year Treasury-indexed hybrid adjustable-rate mortgages averaged 3.02%, unchanged from last week and down from 3.52% a year ago. One-year Treasury-indexed ARMs averaged 2.83%, up slightly from 2.82% in the prior week but below the 3.48% average seen last year.

 If you’d like more information regarding a Texas refinance or a home equity loan please call us at 512-996-8194

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

Texas FHA VA Mortgage Rates

Find Mylendingplace.com and their reviews on Yelp: http://www.yelp.com/biz/mylendingplace-com-mortgage-and-refinance-austin

http://www.bankrate.com/finance/mortgages/mortgage-rates-sink-to-record-low.aspx

With Dallas mortgage rates near record lows, this is a swell time to refinance as long as you’re a fan of “I Love Lucy,” because “you’ll have some ‘splaining to do.”

The benchmark 30-year fixed-rate mortgage fell 3 basis points this week, to a record low 4.29 percent, according to the Bankrate.com national survey of large lenders. A basis point is one-hundredth of 1 percentage point. The mortgages in this week’s survey had an average total of 0.41 discount and origination points. One year ago, the mortgage index was 4.5 percent; four weeks ago, it was 4.41 percent.

The benchmark 15-year fixed-rate mortgage fell 2 basis points, to 3.42 percent. The benchmark 5/1 adjustable-rate mortgage fell 2 basis points, to 3.05 percent, and the benchmark 30-year, fixed-rate jumbo rose 2 basis points, to 4.85 percent.

Bankrate began gathering weekly mortgage rate data 26 years ago, on Sept. 25, 1985. This week’s benchmark rates on the 30-year fixed, 15-year fixed and 5/1 ARM are record lows since that time. The previous records had been set the week before.

Now that Dallas mortgage refinance rates are at historic lows, naturally lots of people are buying homes or refinancing.  Today’s Texas mortgage rates are great…the average 30-year fixed is 3.5% depending on your situation. We, at Mylendingplace.com, are doing a ton of refinancing. Interested in refinancing? Give us a call! 972-325-2120

If you’d like more information regarding a Texas refinance or a home equity loan please call us at 512-996-8194

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

Texas FHA VA Mortgage Rates

http://www.bizjournals.com/dallas/news/2011/09/08/us-mortgage-rates-at-record-lows.html

Mortgage rates in the U.S. are at record lows echoing fears of prolonged economic malaise, with the average 30-year mortgage rate setting a new record for the third consecutive week at 4.35 percent, according to Bankrate.com’s weekly national survey.

The average for Dallas 30-year mortgage rates for the week is 4.26 percent, according to the Bankrate.com survey released Thursday.

Dallas also remained below the U.S. average 15-year mortgage rate at 3.38 percent, compared with the national average 15-year mortgage rate of 3.48 percent. The last time Dallas mortgage refinance rates were above 6 percent was in November 2008.  At that time, the average 30-year fixed mortgage rate was 6.33 percent.

If you’d like more information regarding a Texas refinance or a home equity loan please call us at 512-996-8194

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

Texas FHA VA Mortgage Rates

Find Mylendingplace.com and our reviews on Yelp: http://www.yelp.com/biz/mylendingplace-com-mortgage-and-refinance-austin

http://finance.yahoo.com/news/Fixed-mortgage-rates-stay-apf-780889209.html?x=0&sec=topStories&pos=1&asset=&ccode=

Dallas mortgage rates were mostly flat this week after hitting their lowest levels in decades. But few Americans are capitalizing on them.  The average rate on the 30-year fixed mortgage stayed at 4.22 percent for the second straight week, Freddie Mac said Thursday. The rate hit 4.15 percent two weeks ago, the lowest level on records dating to 1971.

The average rate on the 15-year fixed mortgage, a popular refinancing option, fell to 3.39 percent from 3.44 percent. Two weeks ago, it reached 3.36 — the lowest rate on records dating to 1991 and likely the lowest ever, according to economists.

Mortgage rates typically track the yield on the 10-year Treasury note. Yields rose this week as investors shifted money back to a more stable stock market. Low Dallas mortgage rates have done little to revive a weak housing market. Mortgage applications to purchase a home fell to 15-year lows last month, the Mortgage Bankers Association said. High unemployment, falling home prices and weaker economy have left many people hesitant to buy a home. http://www.mylendingplace.com/

Others can’t qualify for the low rates. Their credit is too weak to meet banks’ tighter lending standards. Many banks are requiring larger down payments. Some potential homebuyers are stuck in homes that are worth less than the existing mortgage. Over the past year, the average rate on the Texas 30-year fixed mortgage has been below 5 percent for all but two weeks. Yet sales remain unhealthy.

Sales of new homes are on pace to finish the year as the lowest on records dating back to 1963. The pace of re-sales is shaping up to be the worst in 14 years. Home prices haven’t fared much better. Since the peak of the housing boom in 2007, homes have lost nearly a third of their value. And they are expected to fall another 5 to 10 percent by year’s end, analysts say. The weak housing market has been a drag on the economy. Without more jobs, the housing market is unlikely to recover any time soon.

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

If you’d like more information regarding a Texas refinance or a home equity loan please call us at 512-996-8194

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

Texas FHA VA Mortgage Rates

Find Mylendingplace.com and their reviews on Yelp: http://www.yelp.com/biz/mylendingplace-com-mortgage-and-refinance-austin

Now that Dallas mortgage refinance rates are at historic lows, naturally lots of people are buying homes or refinancing.  Today’s Dallas mortgage rates are great…the average 15-year fixed is 3.375% – 3.575% depending on your situation. Find out what we can do for you! Give us a call today! 972-325-2120

Unlike most large lenders, we don’t charge buy-down points. Notice how Bank of America is advertising a 15-year fixed mortgage rate at 3.375%  BUT…will charge you an aditional 1.125%.  We’re a “No Point” lender… check our straight forward closing costs here!

If you’d like more information regarding a Texas refinance or a home equity loan please call us at 512-996-8194

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

Texas FHA VA Mortgage Rates