Mortgage rates have dropped since the Federal Reserve signaled that they are holding rates steady. This is seen as a move away from a policy goal of higher rates that were planned last year.
Current Dallas Fort Worth Area Rates @ 3pm 7/29/2016
30 year: 3.24% Conforming A Paper
15 year: 2.56% Conforming A Paper
VIEW TRENDING DFW MORTGAGE INTEREST RATES
MORTGAGE RATES AFFECT YOUR PURCHASING POWER
The basis rule is that when rates go up 1% it is like adding $30K to your home's price tag. When rates go down by 1% it makes the price of the home you want to buy feel $30K less expensive. ARG clients have the option to use their buyer cash rebate to buy down their mortgage interest rate and monthly payment. Happy House Hunting!
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Mike Askins, Realtor, Owner ARG
Got questions for Realtor Mike? Call me at 214-727-3686 (mobile)