Current Mortgage Interest Rates in Texas

August 3rd, 2024 Update

Key Findings:

As of August 3rd, 2024, current interest rates in Texas are as follows:

• 30-year fixed mortgage: 6.72%
• 15-year fixed mortgage: 6.22%
• 5-year adjustable-rate mortgage (ARM): 6.88% (APR)
• 30-year FHA loan: 7.09% (APR)

It's important to note that these rates are subject to change and may vary depending on the specific lender and borrower's financial profile.

Comparison to National Average

Compared to the national average, mortgage rates in Texas are slightly higher. As of August 3rd, 2024, the national average interest rate for a 30-year fixed mortgage is 6.5%, a 15-year fixed mortgage is 6.0%, a 5-year ARM is 6.75% (APR), and a 30-year FHA loan is 7.0% (APR).

Refinancing Options

If you're considering refinancing your current mortgage, it's important to compare multiple offers from different lenders to find the best deal. There are many home refinance options available, each with slightly different features and benefits. It's important to carefully consider your individual financial situation and long-term goals when making a decision.

Disclaimer

Please note that the information provided in this article is for general informational purposes only and does not constitute financial advice. It's always advisable to seek the professional advice of a qualified mortgage lender or financial advisor to discuss your specific situation.