Mortgage rates in Dallas fell this week. Meanwhile, housing inventory in Dallas moved up.
This week's rates
The benchmark 30-year fixed-rate mortgage in Dallas fell to 4.05% from 4.06%, according to the Bankrate.com national survey of large lenders. The mortgages in this week's survey had an average total of 0.56 discount and origination points. Nationally, the 30-year fixed-rate mortgage was 4.07%.
Housing inventory rises in Dallas
Housing inventory in Dallas rose 1% in October from a year prior, according to new data from the Real Estate Center at Texas A&M University and the North Texas Real Estate Information Systems.
That quite a change from the more than 10% year-over-year decline the area saw through the middle 0f 2015, notes The Dallas Morning News.
Yet there's still less than a 3-month supply of preowned single-family homes in the area, notes the Morning News.
The benchmark 15-year fixed-rate mortgage fell to 3.27% from 3.33%. The benchmark 5/1 adjustable-rate mortgage fell to 3.41% from 3.45%, while the 30-year fixed-rate jumbo, for loans of $417,000 and above, fell to 3.97% from 4.03%.
Weekly mortgage survey
|Results from Bankrate's Nov. 24 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:||4.05%||3.27%||3.41%||3.97%|
|Change from last week:||-0.01||-0.06||-0.04||-0.06|
|Change from last week:||-$0.95||-$4.81||-$3.66||-$14.37|