Rates Blog

Finance Blogs » Rates Blog » Mortgage rates in Dallas, Texas

Mortgage rates in Dallas, Texas

By Claes Bell · Bankrate.com
Thursday, September 22, 2016
Posted: 10 am ET

Mortgage rates moved in different directions in the Dallas area this week.

Key 30-year rate remains unchanged in Dallas

The average rate on the benchmark 30-year fixed-rate mortgage rate for the Dallas area stood at 3.67%, according to Bankrate's national survey of large lenders. The local rate topped the national rate of 3.62%.

In this week's survey, the mortgages had an average of 0.49 discount and origination points.

"With the most popular mortgage rate frozen in place, it's neither good news nor bad news for potential borrowers who were waiting to lock a mortgage rate," says Holden Lewis, Bankrate's senior mortgage analyst.

Monthly payments on a hypothetical $165,000 30-year fixed-rate mortgage were also constant, remaining at $756.67.

Other Dallas mortgage types mixed

The average rate for 30-year jumbo mortgages also didn't register a change this week, remaining at 3.69%. Jumbo mortgages are used for loan amounts above limits set by the Federal Housing Finance Agency -- for the Dallas area, that limit is $417,000.

The average rate for 15-year fixed-rate mortgages grew to 2.92%, climbing 6 basis points from last week. Monthly payments on a hypothetical $165,000, 15-year fixed-rate mortgage moved upward with rates, increasing $4.75 to $1,133.12.

"Because the 15-year fixed is a popular mortgage for homeowners who want to refinance, the increase means that a refi is less lucrative than it would have been before the rate rise," Lewis says.

The benchmark 5/1 adjustable-rate mortgage rate declined 3 basis points this week, falling to 3.02%. The most common variety of variable-rate mortgage, 5/1 ARMs allow homeowners to pay a fixed rate for the first 5 years, and the rate adjusts once per year every year after.

RATE SEARCH: Compare mortgage rates in your area now.

Weekly mortgage survey

Results from Bankrate's survey of mortgage lenders conducted 9/21/2016. Monthly payments are for a $165,000 loan. The jumbo rate is for the minimum jumbo loan amount of $417,000 in the Dallas area.
30-year fixed 15-year fixed 5-year ARM 30-year jumbo
This week's rate: 3.67% 2.92% 3.02% 3.69%
Change from last week: N/C +0.06% -0.03% N/C
Monthly payment: $756.67 $1,133.12 $697.43 $1,917.02
Change from last week: N/C +$4.75 -$2.67 N/C
«
Bankrate wants to hear from you and encourages comments. We ask that you stay on topic, respect other people's opinions, and avoid profanity, offensive statements, and illegal content. Please keep in mind that we reserve the right to (but are not obligated to) edit or delete your comments. Please avoid posting private or confidential information, and also keep in mind that anything you post may be disclosed, published, transmitted or reused.

By submitting a post, you agree to be bound by Bankrate's terms of use. Please refer to Bankrate's privacy policy for more information regarding Bankrate's privacy practices.
7 Comments
Clay Tousant
August 29, 2016 at 8:04 am

It is relatively easy to foreclose on property in the state of Texas. The entire process can take about three months and can be accomplished either in or out of court.

Bill
December 26, 2015 at 11:00 pm

We had a lot of trouble with our last SEO company, been reading up on it at home and next time I will employ temp staff to sort it
p.s Never take guidance from people on the Warrior Forums haha

Hilario Posson
September 24, 2013 at 9:55 am

Aw, this was an exceptionally nice post. Spending some time and actual effort to create a great article… but what can I say… I put things off a lot and don't manage to get nearly anything done.|

Add a comment

(Comments may take 5-10 minutes to appear)