Mortgage rates were mixed this week in Houston. Meanwhile, homes in the city are newer and larger than the national average, the Houston Business Journal reports.
The U.S. Department of Housing and Urban Development and the U.S. Census Bureau conduct a housing survey every two years looking at the housing stock in 25 major metropolitan areas. The survey found that the median year of homes and apartments built in Houston is 1984; nationally, the median year is 1975.
Houston homes' median square footage is 2,000 square feet, larger than the national average of 1,800 square feet. And 40 percent of those homes have four or more bedrooms, compared with only 29 percent nationally. Only 66 percent of homes have two or more full bathrooms nationally, but in Houston 84 percent of homes have two or more, the Journal noted.
This week's rates
The benchmark 30-year fixed-rate mortgage in Houston remained at 4.23 percent, 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 4.16 percent.
The benchmark 30-year jumbo mortgage, for loans of $417,000 and more, grew to 4.43 percent from 4.35 percent. The benchmark 15-year fixed-rate mortgage dipped to 3.4 percent from 3.43 percent. The benchmark 5/1 adjustable-rate mortgage remained at 3.2 percent.
Weekly mortgage survey
|Results from Bankrate's June 24 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:||4.23%||3.4%||3.2%||4.43%|
|Change from last week:||N/C||-0.03||N/C||+0.08|
|Change from last week:||N/C||-$2.42||N/C||+$19.79|