Mortgage rates varied this week in Houston. Meanwhile, renters in the city are among the least satisfied with their rents nationally, the Houston Business Journal reports.
San Francisco-based online apartment marketplace Apartment List looked at the median price of 2-bedroom apartments in 391 cities in the U.S. and compared the actual rent price with the search price. It then ranked cities by renters' expectations based on whether rental rates were higher than expected or lower than expected.
New York City had the most disappointed renters nationally, with the median rent 51% more expensive than renters' expectation. Cleveland had the most satisfied with rents coming in at 92% cheaper than expected. Houston ranked No. 47 for having the most disappointed renters, with median rent 17% higher than expected.
The median rent of $1,330 in Houston exceeded the average search price of $1,107, according to the report.
This week's rates
The benchmark 30-year fixed-rate mortgage in Houston fell to 4% from 4.03%, 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 4.01%.
The benchmark 30-year jumbo mortgage, for loans of $417,000 and more, dipped to 3.8% from 3.83%. The benchmark 15-year fixed-rate mortgage remained at 3.23%. The benchmark 5/1 adjustable-rate mortgage rose to 3.13% from 3.1%.
Weekly mortgage survey
|Results from Bankrate's Sept. 30 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 Houston.|
|30-year fixed||15-year fixed||5-year ARM||30-year jumbo|
|This week's rate:||4%||3.23%||3.13%||3.8%|
|Change from last week:||-0.03||N/C||+0.03||-0.03|
|Change from last week:||-$2.85||N/C||+$2.70||-$7.11|