Austin Mortgage Report – August 1, 2014

Mortgage rates end the week a little higher…

In a packed week, the two big economic reports were the main drivers of mortgage rates. The outperformance of the GDP data relative to expectations outweighed the small miss in the Employment report, causing mortgage rates to end the week a little higher. This week’s Fed meeting contained no surprises and had little impact

Rates (with 1 discount point or less*):

30 Year Conv 4.25%

15 Year Conv 3.375%

5 yr ARM 3.125%

FHA 30 Year 4.125%

VA 30 Year 4.125%

USDA 30 Year 4.25%

Jumbo 30 Year 4.25%

Jumbo 5 Yr ARM 3.125%

 

AMR on Air:  This week on The Austin Mortgage Report we discussed:

  • Investing in real estate
  • Insurance considerations for investors
  • Flipping
  • We ended the show with some out of the box strategies for first time investors.

Check out the link below and tune-in every Wednesday at 7pm on Talk1370! 

bit.ly/UJgBsS

Weekend Quote

“Everything you can imagine is real.” - Pablo Picasso

*The above rates are based on a $250,000 purchase loan amount ($420k for jumbo) with a 740 credit score (640 score for FHA, VA and USDA loans, however 600 is our minimum for qualification). Some programs require adjustments for smaller loan amounts or lower credit scores. These are only a few of the many programs we offer. Call me anytime for more information about these and other programs. This message is for Real Estate Industry Professionals Only and not intended for the general public.