Austin Mortgage Report – March 7th, 2014

Mortgage rates end the week higher...It was a volatile week in mortgage markets. Early in the week, rapidly changing conditions in Ukraine caused a great deal of movement in mortgage rates, but there was little net impact. Later in the week, stronger than expected labor market data was negative for Continue Reading

Austin Mortgage Report – Feb. 21, 2014

Mortgage rates end the week higher…The positive momentum in mortgage rates shifted direction after the release of the Fed Minutes on Wednesday. Investors viewed the Minutes as somewhat positive for stocks and negative for bonds. As a result, mortgage rates ended the week a little higher.  Rates (with 1 discount point or less*): 30 Year Conv […]

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Austin Mortgage Report – Feb 7th, 2014

Mortgage rates end the week lower… This week’s key economic data showed that the performance of the economy in January was weaker than expected. The shortfalls caused stocks to decline and mortgage rates to improve, but the impact was surprisingly small. Rates (with 1 discount point or less*): 30 Year Conv 4.25% 15 Year Conv 3.375% […]

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Austin Mortgage Report – Jan. 24th, 2014

Mortgage rates continue the trend lower…The driving force for mortgage rates this week came from an unexpected source. Chinese manufacturing data fell short of expectations, causing sharp losses in global stock markets. Investors shifted to relatively safer assets, helping mortgage rates end the week lower. More below… USDA Update: Congress voted to delay the implementation of […]

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Austin Mortgage Report – Jan 17, 2014

Mortgage rates continue the trend lower…Mortgage rates began the week with downward momentum following last Friday’s big miss on the Employment report. That, combined with low inflation, more than offset this week’s slightly stronger than expected economic growth data, and mortgage rates ended the week a little lower. I am suggesting that my clients lock […]

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Austin Mortgage Report – Jan. 10, 2014

jobs

Mortgage rates end the week lower!A strong reading for job gains in Wednesday’s ADP report caused mortgage rates to move a little higher. The ADP data turned out to be a poor indicator for Friday’s weaker than expected Employment report, and mortgage rates ended the week lower. More below… Rates (with 1 discount point or less*): […]

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Austin Mortgage Report – Dec. 27, 2013

30 year mortgage rates end the week unchanged, but end the year 1.375% higher…As we end the year, I thought it might be interesting to pull up the last Austin Mortgage Report of 2012 and compare rates with today’s last report of 2013. The results are below:Rates (with 1 discount point or less*):   Today’s Rate*  End of […]

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Austin Mortgage Report – Dec. 20, 2013

Mortgage rates end the week just a bit higher…Heading into Wednesday’s highly anticipated Fed meeting, investors were divided about what the Fed statement would reveal. The Fed announced that it will begin to scale back its bond purchase program. The stock market rallied after the news, but mortgage rates rose modestly and ended the week […]

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Austin Mortgage Report – Nov. 13, 2013

Mortgage rates end the week higher again…Stronger than expected economic data and progress on a budget deal in Congress caused investors to move forward their expected timing for the Fed to begin to scale back its bond purchases. This hurt both stocks and bonds, and mortgage rates ended the week about 0.125% higher across the […]

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FHA Loan Amount Limits Are Higher for Austin and surrounding cities! Now $305,900!!

FHA-Limits_Austin_Texas

HUD has increased the maximum mortgage limits for FHA loans in central Texas counties from $288,750 to $305,900 (for single family homes and condos). The limit is higher for duplexes ($391,600). The effective date is Jan, 1, 2014 for this change which means the closing date of a new home must be on or after […]

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Austin Mortgage Report – Nov. 6, 2013

Unemployment 7%

Mortgage rates end the week higher…A wide range of major economic data released this week revealed an unexpectedly strong level of improvement in the labor market and other areas. This is good news for the economy, but it is negative for mortgage rates. As a result, mortgage rates ended the week higher. Current Rates (with 1 […]

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