Rent or Buy in Dallas Forth Worth – Low Rates + Increasing Rent = Perfect time to Buy

Whether you’re a current home owner in DFW or you’re renting, now is the time to make a move in real estate.  See the video below from one our expert resources, Barry Habib – the owner of MBS Highway on Fox News, as he describes very well the current status of the housing and mortgage markets.

If you’re a home owner, prices of homes are improving and it’s becoming easier to qualify than a year ago.  It’s either a great time to refinance or sell your home and move up to a newer or nicer home with low rates.  Call us and we’ll help you compare those options.

If you’re renting, rent prices are increasing 4% according the National Association of Realtors, and interest rates on homes are still low.  If you’re renting, call us today and we’ll help you get ready to qualify for a mortgage and help you find a house.

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Josh Campbell - Mortgage Loan Officer - NMLS # 493535 - Contact Josh Today at 972-904-3694 or Email Questions to josh@texasmortgagenews.com or jcampbell@msilends.com Josh is registered to lend in all 50 States. Specialties Include: Conventional and Government Mortgage Financing, FHA, VA, USDA, Jumbo, Super Jumbo, Second Mortgages, HELOC, Mortgage Market Analysis, Marketing, Branding, Low Interest Rates, World Class Customer Service, Business Partner Development and Relations

Current Mortgage Rates and Programs in Dallas Fort Worth Area

Call 214-929-1733 or josh@joshcampbellmortgage.com

Current Market Analysis:  

While there’s no crystal ball for mortgage rates, it’s important to understand that mortgage rates are based on how investors are trading stocks, bonds, and Mortgage Backed Securities.  Josh Campbell is the type of Mortgage Banker that takes particular interest in understanding how the market is playing an impact on the interest rates, so he’s able to provide the best mortgage interest rate advice for home buyers in the Dallas Fort Worth area of North Texas.   Josh’s experience helps him guide home buyers through the process of understanding when the market is perfect time to lock in under current conditions based on their plans and individual situation.

Call Today 214-929-1733  or email josh@joshcampbellmortgage.com to find out how current market is impacting interest rates if you’re looking to purchase or refinance a home in Texas.

Current mortgage rates are still at very loan levels compared where they’ve been over the last 12 months.  In fact, rates have only been better than they are today (June 16th 2014) for a few weeks out of the entire last year.  Some experts are expecting rates have a strong probability of improving over the next couple months based on economic data and technical trading indicators.

Here are some facts about interest rates to keep in mind:

FACT – Rates really don’t change.  It’s the cost of the rate that changes from day to day (technically, it can change throughout the day).  Comparing rates on different days from different lenders is comparing apples and oranges.

FACT – Getting the Lowest Rate doesn’t always meet getting the Lowest Payment – It’s important to understand the various ways of structuring a mortgage loan.  Call us today, and we’ll schedule a time to walk you through process and show you all options and ensure you understand the pro’s and con’s  of each option.

FACT – Historical June Average Interest Rates:

  • 2008 = 6.32%,
  • 2003 = 5.23%,
  • 1998 = 7%,
  • 1993 = 7.42%,
  • 1988 = 10.46%,
  • 1983 = 12.87%

FACT – Current Rates continue to give home buyers more buying power than any time in history.  See below how much loan you can get for $1000 per month.  $1000 today gives you more than twice the buying power than it did 30 years ago.

  • 2013 – $1000 per month is a $198,000 mortgage
  • 2003 – $1000 per month is a $181,000 mortgage
  • 1993 – $1000 per month is a $144,000 mortgage
  • 1983 – $1000 per month is a $91,000 mortgage

FACT – Rates can be volatile and change very quickly.  Interest Rates often rise like a rocket, but fall like a feather!  The chart below illustrates how the market changes from day to day.   Please note:  Since this is showing the cost of the mortgage backed security, it’s opposite of rate.  So, in other words, as the chart goes down, the rate (or cost of the rate) goes up.

Have you found the perfect new home but want to put your own personal stamp on it? Whether it’s a backyard oasis or a gourmet kitchen, the Purchase Plus program allows you to include planned improvements to your new home in one loan.  We’ve combined a Purchase loan AND a Home Improvement loan for ultra convenience. And since it is secured by a First Lien, you get a much lower fixed interest rate than your traditional 2nd Lien Cash-Out refinance, potentially saving you thousands over the life of the loan.*

Call Josh Campbell at 214-929-1733 for details!

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History of Mortgage Rate Compared to Texas Home Prices

Mortgage Rates are set to increase over the next few years, and with the Texas real estate market also set for increasing home prices and values, RIGHT NOW could be the best possible time for many Texas residents to consider buying their first home or taking this opportunity to move up while purchasing power is at it’ll all time best!

Contact Us Today at 214-929-1733 or josh@joshcampbellmortgage.com for your free mortgage consultation to discuss the best options for financing your new home.   ASK US ABOUT OUR PURCHASE PLUS A POOL PROGRAM!

For many Texans that purchased homes prior to 2011, current rates are at or better than previous year’s interest rates, and now that the values of homes have increased, it’s the perfect time to revisit moving up while rates are still low before home prices continue to increase.

Lower Rates Today + Lower Homes Prices = Purchasing Power for Texans!

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Check out the historical data for interest rates and home values compliments of stluisfed.org and zillow.com

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