Mortgage rates have been on roll over the past five weeks with 30 and 15 year fixed mortgage rates dropping to new lows for the current calendar year. According to Freddie Mac’s most recent mortgage market survey, the 30 year fixed rate average fell from 4.63% down to 4.61% while the 15 year average slid from 3.82% to 3.80% (both averages were based upon loans with .7 points). The agency reported that 5 year treasury indexed adjustable mortgage rates and 1 year ARM rates did not fair as well. The 5/1 ARM rate average jumped from 3.41% to 3.48% while the 1 year ARM rate average rose from 3.11% to 3.15% (based upon scenarios with 0.6 points).
At First United Bank Mortgage, we have been busy helping clients capitalize on this tremendous rate environment. We offer a wide variety of home financing solutions including purchase mortgages, refinance loans, jumbo loans, Texas FHA loans, VA financing, as well as civil service appreciation programs (eligible law enforcement officers, firefighters, paramedics and EMTs may qualify for a discount on closing costs) and a teacher and school employee appreciation program. No matter where you live in the Lone Star State, we can help you find competitive Texas mortgage rates and the right home loan program to meet your needs.
Call us today for a free rate quote and home loan consultation – 972-591-3097.