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Mortgage rates in Houston, Texas

By Clare Mallen · Bankrate.com
Wednesday, November 26, 2014
Posted: 12 pm ET

Mortgage rates varied this week in Houston. Meanwhile, the largest home builder in Houston broke ground on its new headquarters, according to the Houston Business Journal.

National homebuilder Lennar Homes of Texas Land and Construction Ltd., will move into the new two-story, 68,950-square foot office building across the street from its current location. The new site will feature an open two-story lobby, a 5,000-square-foot design center, and walking trails alongside a 5-acre detention pond, the Journal reported.

The benchmark 30-year fixed-rate mortgage in Houston remained at 4.1 percent, according to the Bankrate.com national survey of large lenders. The mortgages in this week's survey had an average of 0.48 discount and origination points. Nationally, the 30-year fixed-rate mortgage was 4.08 percent.

Lennar is the largest homebuilder in Houston with $575 million gross local revenue in 2013. About 225 associates from its group of companies will work at the new headquarters.

The benchmark 30-year jumbo mortgage, for loans of $417,000 and more, dipped to 4.2 from 4.23 percent. The benchmark 15-year fixed-rate mortgage rose to 3.35 percent from 3.28 percent. The benchmark 5/1 adjustable-rate mortgage remained at 3.15 percent.

Weekly mortgage survey

Results from Bankrate's Nov. 25 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: 4.10% 3.35% 3.15% 4.20%
Change from last week: N/C +$5.65 N/C -0.03
Monthly payment: $797.28 $1,167.44 $709.07 $2,039.20
Change from last week: N/C +$5.65 N/C -$7.29
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