Mortgage rates in Dallas were mixed this week. And local real estate experts believe the market will continue to boom for several more years.
This week's rates
The benchmark 30-year fixed-rate mortgage in Dallas fell to 4.08 percent from 4.09 percent, according to the Bankrate.com national survey of large lenders. The mortgages in this week's survey had an average total of 0.42 discount and origination points. Nationally, the 30-year fixed-rate mortgage was 4.08 percent.
Real estate boom could last for years
Dallas, and North Texas overall, is experiencing one of the biggest real estate booms it's seen in decades, and there could be several more years of prosperity ahead, according to The Dallas Morning News.
Not only is demand for homes in the Dallas-Fort Worth area at a high, the real estate market is doing well in all sectors.
Real estate experts tell the Morning News to expect another two or three years of a thriving real estate market.
The benchmark 15-year fixed-rate mortgage remained at 3.3 percent. The benchmark 5/1 adjustable-rate mortgage fell to 3.43 percent from 3.48 percent, while the 30-year fixed-rate jumbo, for loans of $417,000 and above, rose to 4.25 percent from 4.2 percent.
Shop mortgage rates in your area.
Weekly mortgage survey
|Results from Bankrate's Nov. 25 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:||4.08%||3.30%||3.43%||4.25%|
|Change from last week:||-0.01||N/C||-$4.58||+0.05|
|Change from last week:||-$0.96||N/C||-$4.58||+$12.22|