In a previous post we stated that we expected to see an increase in refinance loans in the coming months. As it turns out, that refinance bump might be here sooner than expected.
Just as we all follow the stock market and its ups and downs, some of us follow the mortgage interest rates as well. Texas mortgage rates change all day, every day, in which the markets and banks are open. This is a result of fluctuation in domestic and foreign economies. More specifically, it involves unemployment reports, major shifts in the stock market, mortgage backed securities auctions, and numerous other economic indicators.
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Texas mortgage rates change daily, and sometimes, even hourly. Generally, changes are small; usually there is only a slight change up or down in a given day. However, on eventful days, a 0.25% net change isn’t too farfetched.
