Jumbo Loans: It Pays to Go Big

Americans are finding it pays to go big when borrowing to buy a home. Banks are offering jumbo mortgages, those too big for government programs, at rates at or below taxpayer-backed loans. On average, the extra cost of 30-year fixed jumbo loans reached a six-year low of 0.16 percentage point last month, according to data… [Read More]

Jumbo Rates Closing in on Conforming Loans

The rate differential between jumbo and conforming mortgages is disappearing, thanks to a mix of factors. They include rising guarantee fees on conforming loans, which make them more expensive relative to jumbos; fears that the Federal Reserve will soon scale back its purchases of mortgages backed by Fannie Mae and Freddie Mac; and a growing… [Read More]

30-year Mortgage Rate Reaches New High

  Average interest rates on fixed mortgages increased this week to their highest levels in the past year, signaling slightly higher costs for homebuyers, but rates remain low by historical standards.   Freddie Mac says the average rate for the 30-year loan rose to 3.81%, up from 3.59%. That's still not far from the 3.31% rate reached in… [Read More]

Central Texas Gets New Area Code

  Beginning June 1, Central Texas will have two area codes; 512 and 737!  Why is this important? You will need to adjust how you dial your land line telephones.   Our tremendous growth in Central Texas combined with added demand for new wireless telephone numbers and business lines have prompted the need for a new Central… [Read More]

Austin 11th Largest City – San Marcos, Cedar Park, Georgetown Fastest Growing

  Austin leaped ahead of Indianapolis and Jacksonville to become the nation’s 11th most populated city with the 5th biggest population increase among all U.S. cities according to new estimates released by the US Census Bureau. Between 2011 and 2012, Austin’s population increased by 25,395 for an average of about 70 people each day. The Census Bureau estimated Austin’s 2012 population… [Read More]

Best Real Estate Market in Seven Years

  Metro-area home prices continued to increase in the first three months of 2013, with the national growth showing the best performance in over seven years, according to the most recent quarterly report by the National Association of Realtors®. A companion breakout of income requirements to purchase a median-priced home on a metro basis shows the typical buyer… [Read More]

Austinites Scramble for Google Fiber

Last month, Internet search engine dynamo Google announced it will be bringing fiber service to Austin sometime in the middle of 2014.  The connection is predicted to be 100-times faster than anything presently on the market. Austinites have received few details on how the Fortune 500 company will choose the first neighborhood to get the… [Read More]

Mortgage Delinquency Rates in Decline

A growing housing market with increasing home values and steady job gains are helping more homeowners make mortgage payments.   The percentage of mortgage holders at least two months behind fell by 21% in the first three months of this year vs. the same period in 2012, said credit reporting agency TransUnion on Wednesday.  … [Read More]

Homebuyers Still Confused About Mortgages

The housing market is heating up, and yet many house hunters are not prepared to make the biggest purchases of their lives. When it comes to mortgages, homebuyers answered basic questions about terms, how to choose a lender and financing wrong nearly one-third of the time, according to an April survey of more than 1,000… [Read More]

Austin-area Best for Small Business Success

The Austin, Texas metro area (including Williamson and Hays counties) has received an A+ rating and ranks #1 for friendliness to small businesses in a new study conducted by Thumbtack.com and the Ewing Marion Kauffman Foundation. Thumbtack.com, in partnership with the Ewing Marion Kauffman Foundation, has released their latest results from their 2nd annual Thumbtack.com… [Read More]