Mortgage rates in Dallas were mixed this week. Meanwhile, Dallas was ranked as one of the hottest real estate markets in the U.S.
This week's rates
The benchmark 30-year fixed-rate mortgage in Dallas rose to 4.2% from 4.14%, according to the Bankrate.com national survey of large lenders. The mortgages in this week's survey had an average total of 0.51 discount and origination points. Nationally, the 30-year fixed-rate mortgage was 4.19%.
Dallas real estate is booming
Dallas was the fifth hottest real estate market in the nation in June, according to a recent report from Realtor.com.
The real estate site ranked 20 U.S. cities based on data from the first three weeks of June, including median list prices, median days on the market and listing inventory.
Dallas beat out San Jose, California, for the fifth spot, according to the report.
The benchmark 15-year fixed-rate mortgage fell to 3.39% from 3.47%. The benchmark 5/1 adjustable-rate mortgage rose to 3.45% from 3.42%, while the 30-year fixed-rate jumbo, for loans of $417,000 and above, fell to 4.34% from 4.41%.
Weekly mortgage survey
|Results from Bankrate's July 1 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:||4.2%||3.39%||3.45%||4.34%|
|Change from last week:||+0.06||-0.08||+0.03||-0.07|
|Change from last week:||+$5.79||-$6.44||+$2.76||-$17.15|