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Mortgage rates in Houston, Texas

By Clare Mallen · Bankrate.com
Thursday, April 28, 2016
Posted: 6 am ET

Mortgage rates rose in Houston this week. Meanwhile, homeowners in the city have higher mortgage debt than 90% of the nation, Houston Business Journal reports.

According to a report by financial website WalletHub, Houston ranks in the top 10% of cities in the country where residents are the most overleveraged on their homes. Houston has a median income per capita of $27,231 with an average mortgage debt of $171,890 and a median home value of $125,400. This means the city's debt-to-income ratio places in the 69th percentile nationally and its loan-to-value ratio at 97th percent nationally.

WalletHub analyzed home value, income and mortgage data for 2,521 cities in the U.S. to come up with its rankings, the Journal notes.

This week's rates

The benchmark 30-year fixed-rate mortgage in Houston jumped to 3.88% from 3.78%, according to the Bankrate.com national survey of large lenders. The mortgages in this week's survey had an average total of 0.56 discount and origination points. Nationally, the 30-year fixed-rate mortgage was 3.83%.

More rates

The benchmark 30-year jumbo mortgage, for loans of $417,000 and more surged to 3.85% from 3.73%. The benchmark 15-year fixed-rate mortgage inched up to 3.05% from 3%. The benchmark 5/1 adjustable-rate mortgage climbed to 3.18% from 3.10%.

Weekly mortgage survey

Results from Bankrate's April 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 Houston.
30-year fixed 15-year fixed 5-year ARM 30-year jumbo
This week's rate: 3.88% 3.05% 3.18% 3.85%
Change from last week: +0.10 +0.05 +0.08 +0.12
Monthly payment: $776.36 $1,143.43 $711.77 $1,954.93
Change from last week: +$9.47 +$3.98 +$7.23 +$28.69
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