Mortgage rates in Dallas fell this week. Meanwhile, Dallas home price increases are some of the highest in the nation.
This week's rates
The benchmark 30-year fixed-rate mortgage in Dallas fell to 3.92% from 3.95%, according to the Bankrate.com national survey of large lenders. The mortgages in this week's survey had an average total of 0.41 discount and origination points. Nationally, the 30-year fixed-rate mortgage was 3.88%.
Home price increases in Dallas
Home prices in Dallas rose by 9.4% year-over-year in November, according to the latest S&P/Case-Shiller Home Price Index.
That's nearly twice the national average increase of 5.3%.
Only Portland, San Francisco and Denver saw higher price home increases, according to the index.
The benchmark 15-year fixed-rate mortgage fell to 3.22% from 3.28%. The benchmark 5/1 adjustable-rate mortgage fell to 3.19% from 3.28%, while the 30-year fixed-rate jumbo, for loans of $417,000 and above, fell to 3.78% from 3.84%.
Weekly mortgage survey
|Results from Bankrate's Feb. 3 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:||3.92%||3.22%||3.19%||3.78%|
|Change from last week:||-0.03||-0.06||-0.09||-0.06|
|Change from last week:||-$2.84||-$4.80||-$8.09||-$14.20|