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Unlock Bank 3.25 30 Year Fixed FHA 0.7 to 3 Show Phone Number Learn More
Unlock Bank 4 30 Year Fixed Jumbo 0.7 to 3 Show Phone Number Learn More
Unlock Bank 2.375 5 Year ARM Jumbo 0.7 to 3 Show Phone Number Learn More
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Texas Mortgage Rates: Texas Mortgage Rates Move Up Slightly

By: Rosemary Rugnetta | January 18th, 2011

January 18, 2011 (FreeRateUpdate.com) – Texas mortgage rates moved up slightly today after homebuilders showed some pessimism over the housing recovery.

Today’s Texas fixed rate mortgages were up .125% from last week with Texas 30 year fixed rate mortgages at 4.625% and Texas 15 year fixed rate mortgages at 4.000%. Texas 5/1 adjustable rate mortgages remain steady at 3.125%. These are low conforming Texas fixed rate mortgages and Texas adjustable rate mortgages available with 0.7 to 1% point to borrowers who have excellent credit and can meet lender guidelines.

Current Texas FHA mortgage loans are following the pattern and saw an increase today in mortgage rates. Texas 30 year fixed rate FHA mortgage loans are at 4.500% which is an increase of .125% and Texas 15 year fixed rate FHA mortgage loans are at 4.000%, an increase of .250%. FHA 5/1 adjustable rate mortgages remain the same at 3.000%. Mortgage rates for Texas FHA mortgage loans are slightly lower than conforming Texas fixed rate mortgages, but Texas FHA closing costs (APR) are higher due to various FHA fees and the upfront mortgage insurance premium charged to Texas borrowers.
Texas Mortgage Rates: Texas Mortgage Rates Move Up Slightly
Today’s mortgage rates for Texas jumbo mortgage loans remain consistent from Friday’s pricing. Texas 30 year fixed jumbo mortgage loans are at 5.125% and Texas 15 year fixed jumbo mortgage loans are at 4.750%. Jumbo 5/1 adjustable rate mortgages are the same at 3.875%. For Texas borrowers in need of Texas jumbo mortgage loans in excess of the current conforming loan limits, these are the low Texas jumbo mortgage rates with 0.7 to 1% origination fee.

Mortgage backed securities prices (MBS) have a direct impact on mortgage rates which move in the opposite direction. Today’s MBS prices started down at -3/32 and proceeded to go down further -12/32 (FNMA 30 yr 4.0 at 99.01). As housing starts have remained weak, the current homebuilders report showed a flat market as a lack of credit continues to dampen new home sales.

In an effort to further promote affordable homeownership, the Texas Department of Housing and Community Affairs has funded the Texas Mortgage Credit Program which provides up to a $2,000 reduction of a Texas borrower’s tax liability. This Texas homeownership program will be able to assist approximately 1,000 Texas households who complete the certified home buyer education class.

FreeRateUpdate.com surveys more than two dozen wholesale and direct lenders’ rate sheets to determine the most accurate mortgage rates available to well qualified consumers at a standard .07 to 1 point origination.

Click here for current Texas mortgage rates.


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