While many Texans have been enjoying the fun and festivities that come with the holiday season Texas mortgage rates have remained near their lowest point ever since records have been kept. As reported by Freddie Mac in their weekly survey of mortgage pricing from across the US rates for fixed rate home loans crept up just a bit from the historic lows reached in the previous two weeks.
The average rate for a 30 year fixed rate mortgage was 3.95% (0.7 points) up slightly from the 3.91% record hit the week of December 22. The average 15 year fixed rate pricing also rose a small amount to 3.24% (0.8 points) from the record setting 3.21% of the week of December 15th.
Wondering what this historic pricing could mean for you? Whether or not a refinance makes sense for you at this point depends on several factors such as the rate on your current home loan, how long you plan to own the home, the amount of equity you have in the home, and your credit profile. To talk through the options and for a quote on current rates for your specific scenario just give us a call at 972-591-3097.
Wishing you a wonderful 2012!