It has been an interesting week in the market, and that has brought some mixed reviews in the mortgage market. Growth in productivity markets combined with a larger than expected decline in consumer confidence is sending mixed signals in regards to the economy. As a result, mortgage rates have flattened out over the last month. Last year, the 30 year rate averaged 6.24%, which coincidentally is the national average for the week ending Nov. 15th. 15 year rates are actually down to 5.88 for the week ending November 15th from a year ago, when they were 5.90%.
What does this mean for you as a consumer? The nice thing about Texas is we are typically BELOW the national average in regards to interest rates. SO, if your particular situation fits so that you can qualify for it, you can actually get below average rates for your purchase or refinance. If you would like a no-obligation analysis on your situation feel free to email me or call me directly and we can discuss everything in detail. The nice thing about that is, if you are purchasing a new home, we can get you prequalified on the mortgage side before you look at homes. We can then introduce you to a more-than-capable Realtor so that you talk to the same team throughout the entire transaction. I look forward to talking to you soon!
Craig Pollard is a mortgage professional and owner of Texas Mortgage Team. He specializes in the Dallas Fort Worth area and is a frequent voice on Texas Home Central’s blog. Craig can be reached at CPollard@Texasmt.com or 972-317-9900
This entry was posted on Wednesday, November 21st, 2007 at 12:39 pm and is filed under Housing Market, Money Matters, Mortgage. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.