Mortgage rates in Dallas fell this week. Meanwhile, a report ranked the city as one of the top markets for real estate investment.
This week's rates
The benchmark 30-year fixed-rate mortgage in Dallas fell to 3.96 percent from 4.26 percent, according to the Bankrate.com national survey of large lenders. The mortgages in this week's survey had an average total of 0.19 discount and origination points. Nationally, the 30-year fixed-rate mortgage was 4.01 percent.
Real estate investments are hot in Dallas
Dallas is the ninth best city in the world for real estate investment, according to a report from Cushman & Wakefield, a real estate service company.
New York, London and Tokyo took first, second and third place on the list, respectively. But Dallas beat out Hong Kong and Houston for the ninth spot.
In the second quarter 2014, Dallas saw $14.1 billion in real estate investments. That's a 32.5 percent increase from the year prior, notes the report.
The benchmark 15-year fixed-rate mortgage fell to 3.18 percent from 3.43 percent. The benchmark 5/1 adjustable-rate mortgage fell to 3.06 percent from 3.42 percent, while the 30-year fixed-rate jumbo, for loans of $417,000 and above, fell to 3.97 percent from 4.13 percent.
Shop mortgage rates in your area.
Weekly mortgage survey
|Results from Bankrate's Oct. 15 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:||3.96%||3.18%||3.06%||3.97%|
|Change from last week:||-0.30||-0.25||-0.36||-0.16|
|Change from last week:||-$28.20||-$19.89||-$31.76||-$38.2|