Mortgage rates in Dallas mostly rose this week. And foreclosure filings have fallen drastically in the area.
This week's rates
The benchmark 30-year fixed-rate mortgage in Dallas fell to 4.02 percent from 4.08 percent, according to the Bankrate.com national survey of large lenders. The mortgages in this week's survey had an average total of 0.45 discount and origination points. Nationally, the 30-year fixed-rate mortgage was 4.07 percent.
Foreclosures fall in Dallas
This year, there have only been around 18,500 foreclosure filings in the Dallas-Fort Worth area, according to the Foreclosure Listing Service.
That's 34 percent lower than in 2013, and it's the lowest level since 2001, notes The Dallas Morning News.
The large decline in foreclosure filings can be attributed to rising homes values, which is making it easier for homeowners to refinance or sell their homes, notes the Morning News.
The benchmark 15-year fixed-rate mortgage rose to 3.38 percent from 3.3 percent. The benchmark 5/1 adjustable-rate mortgage jumped to 3.49 percent from 3.43 percent, while the 30-year fixed-rate jumbo, for loans of $417,000 and above, rose to 4.3 percent from 4.25 percent.
Shop mortgage rates in your area.
Weekly mortgage survey
|Results from Bankrate's Dec. 3 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:||4.02%||3.38%||3.49%||4.30%|
|Change from last week:||-0.06||+0.08||+0.06||+0.05|
|Change from last week:||-$5.70||+$6.46||+$5.53||+$12.26|