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Mortgage rates in Houston, Texas

By Clare Mallen · Bankrate.com
Thursday, June 23, 2016
Posted: 7 am ET

Mortgage rates rose in Houston this week. Meanwhile, home sales were up in May, the Houston Business Journal reports.

According to the Houston Association of Realtors, single-family home sales were up 10% in May from the same time last year. Homes priced between $250,000 to $499,999 had an increase of 15.4% year over year, while homes priced between $150,000 to $249,999 noted a jump of 20%. Total dollar volume of sales and total property sales also increased compared to May 2015.

However, the average sales price for a single-family home decreased 0.5% and the median price remained the same, the Journal notes.

This week's rates

The benchmark 30-year fixed-rate mortgage in Houston climbed to 3.80% from 3.73%, according to the Bankrate.com national survey of large lenders. The mortgages in this week's survey had an average total of 0.49 discount and origination points. Nationally, the 30-year fixed-rate mortgage was 3.73%.

More rates

The benchmark 30-year jumbo mortgage, for loans of $417,000 and more grew to 3.73% from 3.68%. The benchmark 15-year fixed-rate mortgage increased to 3.08% from 3.03%. The benchmark 5/1 adjustable-rate mortgage rose to 3.08% from 3%.

Weekly mortgage survey

Results from Bankrate's June 22 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: 3.80% 3.08% 3.08% 3.73%
Change from last week: +0.07 +0.05 +0.08 +0.05
Monthly payment: $768.83 $1,145.82 $702.79 $1,926.46
Change from last week: +$6.59 +$3.99 +$7.18 +$11.83
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