Mortgage Rate Update for Texas | October 12

Mortgage Rate Update for Texas. October 12,2018.  Mortgage rates held steady this week with lots of volatility.  This was driven by the stock market, news from China that they may start selling US mortgage backed securities, and jobs numbers.

Now may be the best time to purchase as home in Dallas Texas due to the increase in homes for sale inventory.  This will make it easier for buyer to get accepted offers, ask for seller closing cost assistance, and not have to compete with other home buyers for the same home.

Program highlight this week.   3% Down Payment Home Loan

3 Down Conventional Mortgage from The Richard Woodward Mortgage TeamThe conventional 3% down payment home loan program has been updated to help more people qualify. Are you looking for a low down payment mortgage in Dallas or the greater Texas area? Do you want to buy a Dallas Texas home and only want to put 3% down? With our conventional 3% down or HomeReady home loans you can buy your dream home with very little down payment.

The 3% Down Payment Home Loan is a program which allows for a 3 percent down payment, low mortgage insurance rates, and a 100% gift from blood or by-marriage relatives. At least one borrower on the loan must be a first time home buyer for the HomeReady Program but not for a regular 3% down. We even offer this loan with Lender Paid Mortgage insurance to help keep your payments as low as possible. If you are looking for a 3% down payment home loan in Dallas contact The Richard Woodward Mortgage Team at 214.945.1066 or apply online now.

Richard Woodward, NMLS 217454

Your Local, Direct, 5 Star Rated Mortgage Lender, Specialty Lending Manager

Office: (214) 945-1066

Service First Mortgage NMLS 166487

6800 Weiskopf Ave #200, McKinney, TX 75070


Licensed by the Texas Department of Savings and Mortgage Lending (SML) Mortgage Banker Registration. Service First Mortgage is an Equal Housing Lender. This is not an offer of credit or commitment to lend. Loans are subject to buyer and property qualification. Rates and fees are subject to change without notice. The views expressed on this site are those of the individual author and do not necessarily reflect the positions, strategies or opinions of Service First Mortgage or its affiliates.

The 30-year fixed mortgage rate rose steadily late last week before easing slightly over the past couple days.

“Mortgage rates surged this week, reaching their highest levels in over seven years before retreating slightly. Strong employment and payroll data releases met analysts’ expectations, providing more evidence of a booming U.S. economy,” said Zillow senior economist Aaron Terrazas. “Markets tend to move in fits and spurts, with sharp movements often followed by brief retreats, as we’ve seen over the past few days. But there is no doubt that the trend is decisively higher, and comments from several Fed officials bolstered the notion that the American economy can withstand higher rates. Looking ahead, in a week light on economic releases, analysts will be closely following Thursday’s consumer price data release for signs of these conditions changing. If prices are rising faster than expected, rates would be primed to climb even higher. A weaker release could offer borrowers temporary relief, though it will take more than a one rate-friendly data release to undo last week’s rally.”

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If you have a question about current mortgage rates give us a call today at…214.945.1066