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Mortgage rates in Houston, Texas

By Clare Mallen · Bankrate.com
Thursday, July 30, 2015
Posted: 7 am ET

Mortgage rates decreased this week in Houston. Meanwhile, home prices in June hit an all-time high, the Houston Business Journal reports.

According to the Houston Association of Realtors, total property sales in Houston increased 3.3% in June, to 9,480, a record high. Single-family home sales also had the highest 1-month volume ever, with 7,935 units sold. That's an increase of 4.1% from June 2014.

The average single-family home price increased, along with the median price, in June. Single-family home inventory was up slightly, and the average time to sell a home was 43 days. Homes priced $150,000 and less noted a decrease in sales.

This week's rates

The benchmark 30-year fixed-rate mortgage in Houston inched down to 4.13% from 4.15%, according to the Bankrate.com national survey of large lenders. The mortgages in this week's survey had an average total of 0.53 discount and origination points. Nationally, the 30-year fixed-rate mortgage was 4.09%.

More rates

The benchmark 30-year jumbo mortgage, for loans of $417,000 and more, sunk to 4.18% from 4.33%. The benchmark 15-year fixed-rate mortgage fell to 3.25% from 3.3%. The benchmark 5/1 adjustable-rate mortgage dipped to 3.2% from 3.23%.

Weekly mortgage survey

Results from Bankrate's July 29 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: 4.13% 3.25% 3.2% 4.18%
Change from last week: -0.02 -0.05 -0.03 -0.15
Monthly payment: $800.15 $1,159.40 $713.57 $2,034.34
Change from last week: -$1.92 -$4.01 -$2.70 -$36.30
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