Mortgage rates in Dallas fell this week. Meanwhile, home flippers are making waves in the city.
This week's rates
The benchmark 30-year fixed-rate mortgage in Dallas fell to 3.64% from 3.78%, according to the Bankrate.com national survey of large lenders. The mortgages in this week's survey had an average total of 0.53 discount and origination points. Nationally, the 30-year fixed-rate mortgage was 3.61%.
Dallas home flippers
Dallas is a popular area for house flips. In fact, the number of house flips in Dallas jumped more than 20% in the 1st quarter of 2016 year over year, according to RealtyTrac.
RealtyTrac estimates that there were nearly 1,000 flips in the area.
The benchmark 15-year fixed-rate mortgage fell to 2.86% from 3.05%. The benchmark 5/1 adjustable-rate mortgage fell to 2.86% from 2.91%, while the 30-year fixed-rate jumbo, for loans of $417,000 and above, fell to 3.66% from 3.72%.
Weekly mortgage survey
|Results from Bankrate's June 29 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:||3.64%||2.86%||2.86%||3.66%|
|Change from last week:||-0.14||-0.19||-0.05||-0.06|
|Change from last week:||-$12.95||-$14.93||-$4.40||-$14.09|