Today's Mortgage Rates in Port Arthur, TX
The Current Average Mortgage Rates in Port Arthur, TX - Updated: Mon, Apr 29, 2024
Rate type | Average Rate | 1W Change | 1M Change | 1Y Change | ||
---|---|---|---|---|---|---|
30-Year Fixed-Rate | 7.17% | 0.07% | 0.35% | 0.54% | Calculate payment | Personalize rate |
15-Year Fixed-Rate | 6.44% | 0.05% | 0.38% | 0.50% | Calculate payment | Personalize rate |
5/1 Adjustable Rate | 6.06% | 0.11% | 0.35% | 1.67% | Calculate payment | Personalize rate |
FHA 30-Year Fixed-Rate | 6.92% | 0.03% | 0.06% | 0.26% | Calculate payment | Personalize rate |
Jumbo 30-Year Fixed-Rate | 7.33% | 0.06% | -0.03% | 0.22% | Calculate payment | Personalize rate |
VA 30-Year Fixed-Rate | 6.87% | 0.16% | 0.10% | 0.39% | Calculate payment | Personalize rate |
USDA 30-Year Fixed-Rate | 6.91% | 0.11% | 0.04% | 0.24% | Calculate payment | Personalize rate |
According to data from Freddie Mac's Primary Mortgage Market Survey and Optimal Blue Mortgage Market Indices, As of the latest data, mortgage rates continue to exhibit both upward and downward trends across various loan programs. Here's a snapshot of the recent changes:
- 30-Year Fixed-Rate: The average rate for 30-Year Fixed-Rate is now at 7.17%. Over the past week, we've seen a slight increase of 0.07%, while the rates have risen by 0.35% over the past month. Looking back a year, the rate has risen by 0.54%.
- 15-Year Fixed-Rate: The average rate for 15-Year Fixed-Rate is now at 6.44%. Over the past week, we've seen a slight increase of 0.05%, while the rates have risen by 0.38% over the past month. Looking back a year, the rate has risen by 0.50%.
- 5/1 Adjustable Rate: The average rate for 5/1 Adjustable Rate is now at 6.06%. Over the past week, we've seen a slight increase of 0.11%, while the rates have risen by 0.35% over the past month. Looking back a year, the rate has risen by 1.67%.
- FHA 30-Year Fixed-Rate: The average rate for FHA 30-Year Fixed-Rate is now at 6.92%. Over the past week, we've seen a slight increase of 0.03%, while the rates have risen by 0.06% over the past month. Looking back a year, the rate has risen by 0.26%.
- Jumbo 30-Year Fixed-Rate: The average rate for Jumbo 30-Year Fixed-Rate is now at 7.33%. Over the past week, we've seen a slight increase of 0.06%, while the rates have decreased by -0.03% over the past month. Looking back a year, the rate has risen by 0.22%.
- VA 30-Year Fixed-Rate: The average rate for VA 30-Year Fixed-Rate is now at 6.87%. Over the past week, we've seen a slight increase of 0.16%, while the rates have risen by 0.10% over the past month. Looking back a year, the rate has risen by 0.39%.
- USDA 30-Year Fixed-Rate: The average rate for USDA 30-Year Fixed-Rate is now at 6.91%. Over the past week, we've seen a slight increase of 0.11%, while the rates have risen by 0.04% over the past month. Looking back a year, the rate has risen by 0.24%.
Buying a Home in Port Arthur, TX: Explore Mortgage Options
If you are considering buying a home in Port Arthur, TX it's vital to delve into the various mortgage options available. In this guide, we'll delve into the most common choices, including FHA Loans, VA Loans, Jumbo Loans, 30-year Fixed Loans, and 15-year Fixed Loans.
When contemplating your home purchase in Port Arthur, TX, consider factors such as your financial situation, long-term plans, and the specific property you have in mind. Consult with local mortgage brokers or lenders who possess an intimate understanding of the Port Arthur, TX real estate market to receive personalized advice.
Calculate Monthly Payment with Current Mortgage Rates in Port Arthur, TX
The Port Arthur, TX Mortgage Calculator is user-friendly, cost-free, and an indispensable tool for prospective Port Arthur, TX homebuyers and those contemplating refinancing. With this Mortgage Calculator, you can:
- Access Rapid Payment Estimates: Discover an approximate monthly mortgage payment based on current mortgage rates in Port Arthur, TX.
- Experiment with Different Scenarios: Tinker with various loan amounts, interest rates, and terms to identify the mortgage that best aligns with your financial plan.
- Budget Wisely: Determine the ideal home price in Port Arthur, TX that harmonizes with your financial objectives.
- Stay Well-Informed: Remain up-to-date with the latest mortgage rates in Port Arthur, TX to make well-founded decisions.
How to find the best Mortgage Rates in Port Arthur, TX
When it comes to securing the best mortgage rates in Port Arthur, TX, a bit of research and diligence can translate into substantial savings over the life of your loan. Mortgage rates can fluctuate due to various factors, so here are some steps to help you discover the most advantageous rates in Port Arthur, TX:
- Check Your Credit Score: Start by checking your credit score. Lenders use this score to determine your creditworthiness, and a higher score often leads to better mortgage rates. If your score needs improvement, take steps to boost it before applying for a mortgage.
- Research Lenders: Look for reputable lenders in Port Arthur, TX. You can explore local banks, credit unions, and online lenders. Each may offer different rates and loan options, so it's essential to compare multiple lenders.
- Compare Rates Online: Use online mortgage rate comparison tools to get an idea of the current rates in Port Arthur, TX. These tools provide a snapshot of the rates offered by various lenders, allowing you to see which ones are competitive.
- Get Personalized Quotes: Request personalized mortgage rate quotes. Be prepared to provide information about your financial situation, such as your credit score, income, and the type of mortgage you're seeking.
- Negotiate and Shop Around: Don't be afraid to negotiate with lenders and ask if they can match or beat the rates you've received from other lenders. Shopping around is key to finding the best deal.
- Consider Macro and Local Factors: Be aware that local factors in Port Arthur, TX, such as housing market conditions and economic trends, can impact mortgage rates. Stay informed about the state's real estate landscape.
- Understand All Costs: Beyond the interest rate, take into account all ancillary expenses, including closing costs and fees. A lower rate may not necessarily translate into the best overall deal if it is accompanied by high fees. You can leverage our Port Arthur, TX Closing Cost Calculator to estimate closing costs.
Unearthing the most advantageous mortgage rates in Port Arthur, TX demands research, patience, and a comprehensive grasp of your financial situation. By adhering to these steps and dedicating time to compare available options, you can secure a mortgage rate that harmonizes with your objectives and leads to substantial savings over time.
Conforming Loan Limits in Port Arthur, TX for the Year 2024
Number of Units | Loan Limits |
---|---|
One-Unit | $766,550 |
Two-Unit | $981,500 |
Three-Unit | $1,186,350 |
Four-Unit | $1,474,400 |