Mortgage rates in Dallas mostly fell this week. And buyers are finding it incredibly tough to find a home in Dallas right now.
The benchmark 30-year fixed-rate mortgage in Dallas fell to 4.48 percent from 4.58 percent, according to the Bankrate.com national survey of large lenders. The mortgages in this week's survey had an average total of 0.54 discount and origination points. Nationally, the 30-year fixed-rate mortgage was 4.47 percent.
It's a rough time for prospective homebuyers shopping in the Dallas area. According to a report from the National Association of Home Builders, only 1.3 percent of single-family homes are vacant.
Dallas ties with Oakland and Minneapolis for the fifth tightest market in the country, notes The Dallas Morning News.
The benchmark 15-year fixed-rate mortgage fell to 3.55 percent from 3.63 percent. The benchmark 5/1 adjustable-rate mortgage rose to 3.69 percent from 3.35 percent, while the 30-year fixed-rate jumbo, for loans of $417,000 and above, fell to 4.5 percent from 4.53 percent.
Shop mortgage rates in your area.
Weekly mortgage survey
|Results from Bankrate's April 9 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:||4.48%||3.55%||3.69%||4.50%|
|Change from last week:||-0.10||-0.08||+0.34||-0.03|
|Change from last week:||-$9.76||-$6.48||+$32.06||-$7.43|