Houston Refinance
Refinancing in Houston area
Posts tagged Rates
Judging stimulus: Jobless rate high, growth real
Feb 18th
WASHINGTON (AP) — Did the stimulus work or not? A year after Congress passed President Barack Obama’s huge economic revival plan, the results are mixed – and hardly final.
Despite Obama’s bold promises, unemployment remains stubbornly high. But job losses have slowed dramatically.
And the nation’s recent economic growth is real, even though the government has spent just one-third of the massive stimulus plan. The program- originally estimated at $787 billion but now priced at $862 billion – is to continue pumping federal money into the economy into 2011. Read the rest of this entry »
Increase in spending shows a good sign for the economy
Feb 10th
NEW YORK (AP) — Americans backed off from their holiday spending pace in January, but retail sales rose for a third month in a row compared with a year earlier, largely because of higher gas prices, according to figures released Wednesday.
Analysts expect the modest spending pace to improve in coming months, though it will be far from robust as high unemployment and tight credit show little sign of disappearing. 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.
