Jul
30
Austin Mortgage Rates
Posted by alexb under Uncategorized
Local mortgage planner John Schutze gives his weekly market update:
“Mortgage rates remain very low this week! After the lower than expected GDP reading this morning, rates are again reaching all time lows! The 2nd quarter GDP showed the economy grew at 2.4%…down from 3.7% during the 1st quarter. While a 2.4% growth rate is still in positive territory and within the Fed™s target range, it disappointed investors and cause an early sell off on the stock market. This in turn helped mortgage bonds and therefore mortgage rates improve this morning.
Current rates:
30 Year Fixed: 4.25 %
15 Year Fixed: 3.75 %
FHA 30 Year: 4.25 %
VA 30 Year: 4.375 %
5 Yr ARM: 3.25 %
Jumbo 30 Year Fixed: 5.25 %
Jumbo 3 Yr ARM: 3.625 %
30 Year Home Equity: 4.5 %
The above rates are based on a $120,000 Loan Amount with a 1% Origination Fee and 720 credit score (660 score for FHA and VA loans). Some programs require slight adjustments for smaller loan amount
John™s team helps Austin area buyers plan their mortgage future. Check out his Austin mortgage blog.
Garreth Wilcock is a Central Austin Realtor ®. You can search Austin homes for sale at his website.
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Jul
17
Austin Mortgage Rates
Posted by alexb under Uncategorized
Local mortgage planner John Schutze gives his weekly market update:
“Mortgage rates are even lower this week!Weaker than expected economic data and continued low inflation helped mortgage rates move a little lower from last week. In recent weeks, investors have modified their consensus outlook to reflect weaker economic growth during the second half of the year. The Fed revised its forecast for 2010 economic growth lower as well. Meanwhile, this week’s CPI and PPI data continued to show that inflation is not a concern in the short term. Uncertainty about the pace of the economic recovery has made investors willing to purchase safer assets such as government guaranteed mortgage-backed securities at these relatively low yields. All good news for mortgage rates! We end the week down AGAIN!
Current rates:
30 Year Fixed: 4.25 %
15 Year Fixed: 3.75 %
FHA 30 Year: 4.25 %
VA 30 Year: 4.375 %
5 Yr ARM: 3.25 %
Jumbo 30 Year Fixed: 5.25 %
Jumbo 3 Yr ARM: 3.625 %
30 Year Home Equity: 4.5 %
The above rates are based on a $120,000 Loan Amount with a 1% Origination Fee and 720 credit score (660 score for FHA and VA loans). Some programs require slight adjustments for smaller loan amount
John™s team helps Austin area buyers plan their mortgage future. Check out his Austin mortgage blog.
Garreth Wilcock is a Central Austin Realtor ®. You can search Austin homes for sale at his website.
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Jul
2
Austin Mortgage Rates
Posted by alexb under Uncategorized
Local mortgage planner John Schutze gives his weekly market update:
“Mortgage rates remain at the lowest level in a decade!Weak economic data from the US, Europe, and China caused investors to question the pace of the global economic recovery. Slower economic growth was positive for mortgage rates and negative for the stock market.
Friday’s important Employment report reflected a slowly improving labor market. The economy lost -125K jobs in June, which was very close to expectations. The figures include a loss of -225K census workers who completed their temporary assignments. The private sector added 83K jobs. The Unemployment Rate fell to 9.5% from 9.7% in May, but this was due to 650K people leaving the labor force. The labor force consists of everyone in the US who either has a job or is looking for one, and the Unemployment Rate measures the percentage of the labor force without jobs.
Current rates:
30 Year Fixed: 4.375 %
15 Year Fixed: 3.75 %
FHA 30 Year: 4.5 %
VA 30 Year: 4.625 %
5 Yr ARM: 3.375 %
Jumbo 30 Year Fixed: 5.5 %
Jumbo 5 Yr ARM: 4.375 %
30 Year Home Equity: 4.625 %
The above rates are based on a $120,000 Loan Amount with a 1% Origination Fee and 720 credit score (660 score for FHA and VA loans). Some programs require slight adjustments for smaller loan amount
John™s team helps Austin area buyers plan their mortgage future. Check out his Austin mortgage blog.
Garreth Wilcock is a Central Austin Realtor ®. You can search Austin homes for sale at his website.
