Mortgage rates in Dallas fell this week. Meanwhile, Dallas home prices hit a new peak.
The benchmark 30-year fixed-rate mortgage in Dallas fell to 4.43 percent from 4.48 percent, according to the Bankrate.com national survey of large lenders. The mortgages in this week's survey had an average total of 0.46 discount and origination points. Nationally, the 30-year fixed-rate mortgage was 4.45 percent.
Home prices in Dallas rose by 10.2 percent in December 2013 from a year prior, according to the latest Standard & Poor's/Case-Shiller Home Price Index. That's the largest annual increase in the city since 2000.
Home prices improved month-to-month as well, rising by 0.2 percent from November to December of 2013. That's better than the 0.1 percent increase the city saw from October to November that year, notes the report.
The benchmark 15-year fixed-rate mortgage fell to 3.42 percent from 3.51 percent. The benchmark 5/1 adjustable-rate mortgage dropped to 3.19 percent from 3.5 percent, while the 30-year fixed-rate jumbo, for loans of $417,000 and above, fell to 4.36 percent from 4.44 percent.
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Weekly mortgage survey
|Results from Bankrate's March 5 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:||4.43%||3.42%||3.19%||4.36%|
|Change from last week:||-0.05||-0.09||-0.31||-0.08|
|Change from last week:||-$4.87||-$7.25||-$27.65||-$19.61|