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Today’s Loan Rates- Austin & Texas
December 15, 2009 by urbanaustinmortgage · Leave a Comment
Hey Team!
Hope this week is off to great start for you all.
The mortgage market took-one-on-the-chin this morning when the Labor Department reported prices paid at the farm and factory gate jumped more than double the 0.8% gain most analysts had been expecting. The headline November producer price index was up a surprising 1.8% while the core index (a value stripped of the more volatile food and energy components) posted a larger-than-expected 0.5% gain. The lion’s share of the surge in the November producer price index figures was created by a strong uptick in energy costs and new model year price increase for light trucks. Crude oil prices hit $82 a barrel during the survey period for this data but has since retreated sharply – trading around $70 a barrel as I write. Near record excess manufacturing capacity and a jobless rate that is projected to average 10% for much of 2010 will likely prevent suppliers from passing on these increasing costs through at least the end of the first-quarter of the New Year.
Mortgage investors are taking a cautious “wait-and-see” approach in front of the last Federal Open Market Committee meeting of 2009. The text and tone of the Committee’s post-meeting statement (scheduled for release at 2:15 p.m. ET, Wednesday, December 16th) will contribute significantly to the trend trajectory of mortgage interest rates up and through the Christmas break.
Any hint that the central bank is considering backing off of its asset purchase programs, or perhaps mulling an increase in its benchmark short-term interest rates will likely send mortgage interest rates notably higher. While it is worth noting this risk exists – the probability of such an outcome is exceptionally low.
Today’s Urban Austin Mortgage Rates:
30yr fixed- 4.625% 0+1.25
15yr fixed- 4.125% 0+1.25
FHA/VA- 4.75% 0+1.25
USDA 100% financing- 4.75% 0+1.25
*These low rates are ONLY offered through Urban Austin Mortgage. The application process is FREE, simple and you can receive an approval in just a few hours. Let’s get to work!
Respectfully,
D. Stephen Steakley, Jr.
Austin, Texas Home Loan Expert
512-577-8898 ph
Austin, TX Home Loan – Quick Application
