Mortgage rates in Dallas mostly inched up this week. And a recent report named Dallas as one of the country's least healthy housing markets.
This week's rates
The benchmark 30-year fixed-rate mortgage in Dallas rose to 3.83 percent from 3.81 percent, according to the Bankrate.com national survey of large lenders. The mortgages in this week's survey had an average total of 0.54 discount and origination points. Nationally, the 30-year fixed-rate mortgage was 3.79 percent.
Dallas named as an unhealthy real estate market
The Dallas-Fort Worth area is one of the least healthy housing markets in the nation, according to a recent report by Nationwide Insurance.
In fact, it ranked 365 out of a list of more than 370 markets.
Much of that is due to the hefty home price growth in the area and the mediocre income growth, notes The Dallas Morning News. Home prices in the area have jumped up by 40 percent since early 2008, according to the Morning News.
The benchmark 15-year fixed-rate mortgage rose to 3.16 percent from 3.14 percent. The benchmark 5/1 adjustable-rate mortgage remained at 3.36 percent, while the 30-year fixed-rate jumbo, for loans of $417,000 and above, remained at 3.94 percent.
Weekly mortgage survey
|Results from Bankrate's April 22 survey of mortgage lenders. Monthly payments are for a $165,000 loan. The jumbo rate is for the minimum jumbo loan amount of $417,000 in Dallas.|
|30-year fixed||15-year fixed||5-year ARM||30-year jumbo|
|This week's rate:||3.83%||3.16%||3.36%||3.94%|
|Change from last week:||+0.02||+0.02||N/C||N/C|
|Change from last week:||+$1.88||+$1.60||N/C||N/C|