Yellowstone Jan 2011

2011 Housing Forecast

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The State of the Texas Housing Market - Dr. James P. Gaines.pdf (2977 KB)

Please Check out the Housing Market Report by Dr. James P. Gaines from Texas A & M Real Estate Center.

Texas is still doing well and is becoming the place to live.

 

 

 

Posted via email from TexasHomesDuo's Exit Realty NW San Antonio posterous

Bankrate: Mortgage Rates Jump Again

 

RISMEDIA, January 3, 2011—Mortgage rates climbed higher last week, with the average conforming 30-year fixed mortgage rising to 5.02 percent, according to Bankrate.com's weekly national survey. The average 30-year fixed mortgage has an average of 0.44 discount and origination points.

To see mortgage rates in your area, go to http://www.bankrate.com/funnel/mortgages/.

The average 15-year fixed mortgage increased to 4.39 percent and the larger jumbo 30-year fixed rate rose to 5.64 percent. Adjustable rate mortgages also went up, with the average 5-year ARM rising to 4 percent and the average 7-year ARM reaching 4.43 percent.

The last time mortgage rates were above 6 percent was Nov. 2008. At that time, the average rate was 6.33 percent, meaning a $200,000 loan would have carried a monthly payment of $1,241.86. With the average rate now 5.02 percent, the monthly payment for the same size loan would be $1,076.09, a savings of $166 per month for a homeowner refinancing now.

Survey Results
30-year fixed: 5.02% -- up from 4.96% last week (avg. points: 0.44)
15-year fixed: 4.39% -- up from 4.29% last week (avg. points: 0.4)
5/1 ARM: 4.00% -- up from 3.92% last week (avg. points: 0.45)

Bankrate's national weekly mortgage survey is conducted each Wednesday from data provided by the top 10 banks and thrifts in the top 10 markets.

 

 

Posted via email from TexasHomesDuo's Exit Realty NW San Antonio posterous