Mortgage rates in Dallas were mixed this week. And a new report says there are now more homes on the market.
This week's rates
The benchmark 30-year fixed-rate mortgage in Dallas rose to 4.31 percent from 4.35 percent, according to the Bankrate.com national survey of large lenders. The mortgages in this week's survey had an average total of 0.17 discount and origination points. Nationally, the 30-year fixed-rate mortgage was 4.23 percent.
Inventory moves up
Prospective buyers should have more choice when shopping for a home in the Dallas area. The inventory of homes on the market moved up by 9.09 percent in the second quarter from the previous quarter, according to a recent report from the Texas Association of Realtors. It's now at 2.4 months of inventory.
Of course, it'll cost a little more to purchase a home. The median price of a Dallas home moved up by 9.81 percent in the second quarter from the first quarter of the year, hitting $211,500, according to the report.
The benchmark 15-year fixed-rate mortgage fell to 3.47 percent from 3.48 percent. The benchmark 5/1 adjustable-rate mortgage rose to 3.41 percent from 3.4 percent, while the 30-year fixed-rate jumbo, for loans of $417,000 and above, remained at 4.31 percent.
Shop mortgage rates in your area.
Weekly mortgage survey
|Results from Bankrate's Aug. 27 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:||4.31%||3.47%||3.41%||4.31%|
|Change from last week:||-0.04||-0.01||+0.01||N/C|
|Change from last week:||-$3.87||-$0.81||+$0.92||N/C|