juliewoodw@coldwellbanker.com
    361-563-7788

Port Aransas Texas Real EstatePort Aransas Texas Real Estate

  • Home
  • Search
    • Advanced Search
    • Map Search
    • Featured Homes
    • Trending Searches
    • Search Condos
    • Address Search
    • Search by MLS ID #
  • Port Aransas
    • About Port Aransas
    • Port Aransas Condos
    • Port Aransas Homes
    • Port Aransas Lots
  • N Padre Island
    • About North Padre Island
    • North Padre Island Homes
    • North Padre Island Condos
    • North Padre Island Lots
  • Buy
    • Mortgage Calculator
    • Getting Ready to Buy
    • Moving Checklist
  • Sell
    • What’s Your Home Worth
    • Selling Your Home
    • Local Market Reports
    • Sell Your Home Faster
  • Concierge
    • About Julie
    • Blog
    • Testimonials
    • Port Aransas Links
    • Real Estate Services
    • Restaurants
    • Schools
  • Contact

30-Year Fixed Rate Mortgage Rates Fall To 3.62% Nationwide

30-year fixed rate mortgage rates30-year fixed rate mortgage rates made new, all-time lows once again this week.

According to Freddie Mac’s weekly mortgage rate survey of more than 125 banks nationwide, the average 30-year fixed rate mortgage rate fell 4 basis point to 3.62% nationwide.

The rate is available to conforming, prime borrowers willing to pay an accompanying 0.8 discount points plus a full set of closing costs. A “prime” mortgage applicant typically has excellent credit, verifiable income, and at least 25% equity in their home.

And, it’s not just the 30-year fixed rate mortgage that made new lows in this holiday-shortened week, either. The 15-year fixed rate mortgage did, too, falling 5 basis points to 2.89%, on average.

The 15-year fixed rate mortgage requires 0.7 discount points plus closing costs.

Discount points are a one-time, up-front closing cost, based on loan size. If your loan requires 1 discount point, that means that your loan has a closing cost equal to 1 percent of your loan size. If your loan requires two discount points, the fee would be equal to two percent of your loan size; and so on.

So, based on this week’s Freddie Mac survey, a home buyer in Corpus Christi opening a $200,000 mortgage and paying 0.8 discount points would face to a one-time $1,600 fee to be paid at closing.

The good news is that discount points are optional. 

To avoid paying discount points, simply ask your lender for a “zero points” loan. You’ll get a higher mortgage rate than what Freddie Mac shows in its survey, but you’ll pay fewer closing costs.

Today’s low rates are terrific for both home buyers throughout TX and existing homeowners looking to make a refinance. As compared last year at this time, mortgage rates are down by 98 basis points — nearly one full percentage point.

Mortgage payments are much lower today as compared to July 2011 : 

  • July 2011 : $512.64 principal + interest per $100,000 borrowed
  • July 2012 : $455.77 principal + interest per $100,000 borrowed

Today’s rates yield an 11 percent payment discount as compared to last year.

Mortgage rates are unpredictable so there’s no guarantee that low rates will last forever, much less through the summer. If today’s rates meet your household budget, consider locking something in.

Posted in: Mortgage Rates Tagged: Discount Points, Freddie Mac, PMMS

Nearby Hot Properties

162 La Concha #18 18 $434,500

162 La Concha #18 18 Port Aransas, Texas

4 Beds 3.5 Baths 1,818 Sq Ft Acres

732 Sandcastle Dr 5 $379,000

732 Sandcastle Dr 5 Port Aransas, Texas

4 Beds 2 Baths 1,079 Sq Ft Acres

6021 State Highway 361 405 $324,500

6021 State Highway 361 405 Port Aransas, Texas

2 Beds 2 Baths 1,003 Sq Ft Acres

6317 State Highway 361 3316 $290,000

6317 State Highway 361 3316 Port Aransas, Texas

2 Beds 2 Baths 1,454 Sq Ft Acres

129 Bikini Dr $275,000

129 Bikini Dr Port Aransas, Texas

Beds 0 Baths 0 Sq Ft 0.260 Acres

5973 5973 Hwy. 361 116 $168,000

5973 5973 Hwy. 361 116 Port Aransas, Texas

3 Beds 2 Baths 1,250 Sq Ft Acres

244 Beachwalk Lane $139,900

244 Beachwalk Lane Port Aransas, Texas

Beds 0 Baths 0 Sq Ft 0.170 Acres

162 La Concha Blvd 20 $61,500

162 La Concha Blvd 20 Port Aransas, Texas

Beds 0 Baths Sq Ft Acres

Post navigation

« Mortgage Rate Risk Ahead Of Friday Morning’s Jobs Report
Top 10 U.S. Cities For Public Parks »

Quick Search

Advanced Search Map Search

Talk to Julie Now!

Have a question? Give me a call at 361-563-7788, or you can click my photo for more options to call or email and I will contact you right away.

Follow Me

What’s Trending

  • Port Royal Condos
  • Mayan Princess Condos
  • Sandpiper Condos
  • La Mirage Condos
  • Sandcastle Condos
  • Island Moorings Condos
  • Aransas Princess Condos
  • Coral Cay Condos
  • Island Retreat Condos
  • Clines Landing Condos

Contact Julie

Port Aransas Texas Real Estate
Julie Woodward, Broker/Associate

Address: 1900 State Highway 361
Port Aransas, TX 78373-4894
Direct: (361) 563-7788 (Mobile)
Phone: (361) 749-6000 (Office)
By Fax: (361) 749-5337 (Fax)
By e-mail: juliewoodw@coldwellbanker.com

Quick Search Links

  • Port Aransas
  • Port Aransas Homes
  • Port Aransas Condos for Sale
  • Port Aransas Lots
  • North Padre Island
  • North Padre Island Homes
  • North Padre Island Condos
  • North Padre Island Lots

Hot Port Aransas Real Estate

This home is known as Canary Island and was designed with families in mind. Open kitchen, living and dining with beautiful vinyl plank and tile. Also on this level is a large master bedroom with private bath and a half bath in the hallway. There is a large covered deck off of the kitchen and dining with shade in the afternoon. The third floor has three bedrooms, two baths and a laundry closet. The master on this floor has access to the covered deck and an adjoining bath. The guest bedroom shares a Jack & Jill bath with the bunk room that has 2 sets of beds. There is a large garage and parking to accommodate 5 vehicles or 4 vehicles and a boat. Bella Vista has a beautiful lagoon style pool with waterfalls and the large private lake has fountains. It is only minutes away by car to the beach, 10 minutes from Port Aransas restaurants and 15 minutes from Schlitterbahn water park on Padre Island. The condo is beautifully furnished and the furnishings convey. Great investment opportunity! $434,500 Active

162 La Concha #18 18 Port Aransas, Texas

4 Beds 3.5 Baths 1,818 Sq Ft

Disclaimer - All Rights Reserved by Julie Woodward

© 2018 · Coldwell Banker, Island Realtors · Julie Woodward · (361) 563-7788 · IDX Login · Sitemap · IDX Sitemap
Texas Property Code requires REALTORS to provide this form to customers, potential customers and clients. Click link for form. | Consumer Protection Notice
Log in · Real Estate Websites by Real Estate Websites