Happy Thanksgiving week to everyone! It is a time to reflect what we are grateful for. It is also a time to take inventory on what we truly care about in our lives. We are rapidly approaching the end of the year with the holiday season kicking into high gear. However, one additional thing to be thankful for is low mortgage rates in Texas with refinance options.
With low rates in the housing market, people can be thankful for low mortgage rates in Texas. This has been a year filled with a lot of challenges, but there are opportunities to take advantage of how low home loans are currently. Let’s talk more about it.
Historically Low Mortgage Rates in Texas
According to national news outlets, mortgage rates are at an all-time low. More than four million homeowners have refinanced their home loans this year alone, which has helped them save substantial money on their monthly payments. Experts say mortgage rates are an entire percent lower than they were in 2019.
The good news for potential and current homeowners is that rates have dropped between 12-13 times this year. The interest rate on both a 15-year fixed-rate mortgage and a 30-year fixed-rate mortgage both have fallen below three percent. Due to the current COVID-19 pandemic, consumers have been conserving their resources, which has contributed to lower mortgage rates.
Housing Market Booming
The Federal Reserve making emergency cuts during the coronavirus global health crisis has been one of the causes of the low mortgage rates in Texas. The housing market has been seeing a lot of activity with a steady increase in mortgage and refinance applications this year.
A few reasons to consider when deciding whether to file for a lower mortgage rate are that it can possibly lower monthly payments, as stated above, you will likely have new loan terms, and ultimately you may be able to save money that can be put toward other expenses. There are also cons to weigh with the decision to refinance such as the amount of work it will take to place a refinance application. However, this window of opportunity may not be around indefinitely.
According to the Mortgage Bankers Association, mortgage refinance applications account for more than 60 percent of mortgage application activity, which is not surprising. It is a great time to take advantage of lower mortgage rates, whether you are a first-time home buyer or are looking to refinance your home.Call the best mortgage lender in Texas, John Schutze’s Texas Loan Experts Team in Austin at (512) 775-6820 or visit JohnSchutze.com to apply now. Texas Loan Experts has the lowest rates on Conventional, FHA, Mortgage Refinances, Jumbo Loans, Debt Consolidation Loans, Rate and Term Refinances, Cash Out Refinances, and HARP Loans. We are also the exclusive home for Hero.Loan VA Mortgages. We will come to you to close your loan. Nobody gets lower mortgage rates on better loans than Texas Loan Experts.
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The John Schutze Team
Our customer first approach to mortgages is what separates us from all of the other banks and mortgage companies. Our team will walk you through the process to ensure that your loan closes in a very timely manner. Our competition may think our philosophy on face-to-face customer service is excessive but our clients sure do appreciate it.
WE ARE THE EXPERTS
Our team has set the standard in the mortgage industry. We hire only the best in the business. Our knowledge and experience is unmatched. We continue to train and study new mortgage loan programs to make us the best choice for mortgage refinancing and home purchases, debt consolidation, Conventional, FHA, HARP, VA, and Jumbo Loans available.
BETTER HOME LOANS WITH LOWER MORTGAGE RATES
We provide you with several different mortgage loan options to ensure that you find the mortgage loan program that best fits your needs. Because of the volume of mortgage loans our team closes and the great relationships we have forged within our industry, we’re able to offer the most competitive mortgage interest rates to our clients.
WE ARE MORTGAGE LENDERS, NOT MORTGAGE BROKERS
As a direct mortgage lender, our process has been streamlined from start to finish. Having the entire mortgage loan process contained under one roof allows us to quickly and efficiently close your loan. Our ability to use the newest mortgage loan products and underwrite our own files, allows us to approve loans that our competitors can’t.