Mortgage rates in Dallas rose this week. And median home prices in the area saw double-digit increases during the first quarter of 2015.
This week's rates
The benchmark 30-year fixed-rate mortgage in Dallas rose to 4.19 percent from 4.11 percent, according to the Bankrate.com national survey of large lenders. The mortgages in this week's survey had an average total of 0.49 discount and origination points. Nationally, the 30-year fixed-rate mortgage was 4.03 percent.
Dallas sees double-digit home price growth
Median home prices in Dallas shot up 10.1 percent in the first quarter of 2015 from the first quarter 2014, according to a recent report from the National Association of Realtors.
The median home price in the area was $192,500 during that time. That's just under the national average of $205,200, notes the report.
Nationwide, home prices rose 7.4 percent in the first quarter.
The benchmark 15-year fixed-rate mortgage rose to 3.41 percent from 3.38 percent. The benchmark 5/1 adjustable-rate mortgage rose to 3.58 percent from 3.55 percent, while the 30-year fixed-rate jumbo, for loans of $417,000 and above, rose to 4.28 percent from 4.16 percent.
Weekly mortgage survey
|Results from Bankrate's May 20 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:||4.19%||3.41%||3.58%||4.28%|
|Change from last week:||+0.08||+0.03||+0.03||+0.12|
|Change from last week:||+$7.72||+$2.42||+$2.78||+$29.45|