Houston Refinance
Refinancing in Houston area
Posts tagged Mortgage
Mortgage Refinance Rates: 30 Year Refinance Rates at 4.95%
May 13th
Mortgage refinance rates are lower again this week in our latest refinance mortgage rates survey. 30 year mortgage refinance rates are averaging 4.95 percent this week, down from the previous week’s average 30 year refinance mortgage rate of 5.03 percent.
Refinance rates have been slowly going lower since mid April. Lower mortgage refinance rates drove demand for refinancing higher in the latest Refinance Index survey released by the Mortgage Bankers Association. The Refinance Index, which is a measure of mortgage applications for refinancing jumped 14.8 percent.
10 year U.S. Treasury yields were also lower last week as investors fled the Euro and bought Treasuries. The European Union and the IMF finally put together a rescue package for Greece.
15 year refinance mortgage rates were also lower this week over last. The current average 15 year mortgage refinance rate is averaging 4.35 percent, down from last week’s average 15 year mortgage rate of 4.42 percent.
If you’re considering a refinance, your first thought should be about home values!
Apr 27th
If you’re considering a refinance, your first thought should be about home values! Many times a refinance is makes sense following a high loan-to-value purchase loan such as an 80/20 or financing with mortgage insurance. In both cases, the home’s current value–as determined by an appraisal–is the biggest hurdle in the road to a new low–interest mortgage loan.
So how do you know what your home is worth? The easiest way is to ask your Realtor! If you’re in The Woodlands, check out this 2009 market report for a head start:
TX – The Woodlands Home Values, 2009
In this report, we break down The Woodlands by village, offering detailed statistics, charts, graphs, and analysis. If you find it useful, please send us comments or suggestions!
Outside The Woodlands? Head over to our Houston market snapshot request, and register for your neighborhood market report (sent to you via monthly email).
About the author
Johnny Schiro is a Houston Realtor and co-owner of Icon Real Estate — an elite brokerage in The Woodlands, Texas. Johnny writes mostly about local market trends, buying & selling strategies, and industry insight. Comments and feedback encouraged.
Mortgage demand at six-week highs on refinance wave
Feb 8th
NEW YORK (Reuters) – Demand for home loans rose to a six-week high on a mini refinance wave, with borrowers pushing to lock in rates before they climb later this year, the Mortgage Bankers Association said on Wednesday,
Applications to buy homes and refinance loans jumped last week to mid-December levels as average 30-year mortgage rates held near 5 percent.
The industry group’s mortgage index jumped 21 percent last week, fueled by a 26.3 percent leap in demand for refinancing as purchase loan requests increased 10.3 percent.
The 30-year mortgage rate dipped 0.01 percentage point to 5.01 percent. Read the rest of this entry »
Mortgage Rates Rose Slightly But Still Within Record Lows
Dec 11th
Mortgage rates moved up slightly this week but remain within striking distance of record lows. The average 30-year fixed-rate mortage rate is 5.04% according to bankrate.com. On larger jumbo mortgages the average rate is 6%. Don’t be fooled by the lower adjustable-rate mortgages. For example, the current adjustable-rate is 4.55%. Even though the adjustable mortgage rate might be slightly lower, the mortgage rate will only last 5 years. After 5 years there might be a significant monthly payment increase and it might wreak havoc on your budget because of a reset on the rates. For most home owners fixed-rate mortgage are where the value is because they lock in affordability for a longer period of time. If you currently have adjustable-rate mortgage, refinancing should be an option to consider. Refinancing will give you a fixed payment and might lower your cost in the long run.
Mortgage Interest Rates at Record Low
Nov 12th
Bankrate.com mortgage analysis showed that mortgage interest rates are at its lowest. For those in Houston looking mortgage refinance, the rates has never been lower. Interest rates are in a near record low. Fannie Mae and Freddie Mac have been tightening lending standards for more than 2 years to prevent loans to be given out poorly. They are planning to launch a new underwriting software to help loan decision making easier called Desktop Underwriter or DU 8.0. The projected launch date for the Desktop Underwriter 8.0 is Dec 12th. Fannie Mae has also raised the minimum allowable credit score from 580 to 620. However, there is no minimum credit score for refinancing under Obama administration’s Home Affordable Refinance Program.
Mortgage rates are near historic lows, but lenders continue to make it harder to get a home loan.
The benchmark 30-year fixed-rate mortgage fell 16 basis points, to 5.19 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 0.38 discount and origination points. One year ago, the mortgage index was 6.39 percent; four weeks ago, it was 5.32 percent.
The benchmark 15-year fixed-rate mortgage fell 11 basis points, to 4.61 percent. The benchmark 5/1 adjustable-rate mortgage fell 6 basis points, to 4.58 percent.
The 30-year fixed hasn’t been this low since Bankrate’s April 15 survey, when it fell to 5.18 percent. In the 24-year history of Bankrate’s weekly survey, the all-time low was 5.13 percent, ;which was on April 1 this year.
Source:Bankrate.com
Delinquencies Continues to Rise In Fannie Mae’s Portfolio
Nov 2nd
Wall Street Journal reports Fannie Mae’s delinquencies rise further in August.
Fannie Mae (FNM) said delinquencies in its mortgage portfolio continued to rise, showing a potential plateau in the woes has yet to arrive.
It and smaller sibling Freddie Mac (FRE) were put into conservatorship a year ago by the federal government amid fears of mounting losses at the companies.
Fannie said Friday that August serious delinquencies, or those at least 90 days behind, rose to 4.45% on single-family homes from 4.17% in July and 1.57% a year earlier. Fannie’s delinquencies have been worse than Freddie’s.
The report also showed that Fannie’s mortgage portfolio grew 1.7% in September to $792.68 billion, or a 22% annual rate. Its book of business, which includes mortgage-backed securities and other guarantees, rose $13.6 billion to $3.24 trillion. Its annualized growth rate was 5.2% for the month.
In addition, Fannie’s net commitments to purchase mortgages more than doubled in September to $69.67 billion after August’s 69% month-on-month tumble. Fannie and Freddie are key mortgage financiers.
Fannie shares closed Friday at $1.08. The stock is up 42% this year.
Houston Refinance is Here
Oct 30th
Welcome to Houston Refinance. This site will have all your resources to help you refinance your mortgage. Stay tuned for the latest news in the mortgage industry
