Una hipoteca is a specialized loan that’s used to purchase a piece of property. In most cases, this is your primary residence. However, you might also use a mortgage to fund a second home or investment property. Your mortgage rate determines how much interest you’ll pay on your loan.
Your overall interest can add up to a hefty sum when you’re purchasing something as big as a home. As of December 2022, the precio medio de cotización de una casa en Houston was $340,000. This represents a 3.1% increase over the previous year. Here’s what you need to know about your mortgage rate so you can make a wise choice when buying your next home.
¿Cómo se determinan las tasas hipotecarias?
The economy plays a big role in determining mortgage rates in Houston, Texas, as well as other cities across the country. When the economy is good, mortgage rates increase because borrowers can generally afford more. When the economy is bad and unemployment is high, mortgage rates typically fall since borrowers don’t have as much money to take out a loan. Mortgage rates typically fluctuate in line with:
- La reserva Federal.
- El mercado de bonos.
- Las tasas del Tesoro de Vencimiento Constante (CMT).
- La tasa de financiación garantizada a un día (SOFR).
A finales de 2019, las tasas hipotecarias de principios de 2020 cayeron por debajo de 3% en respuesta a las medidas de emergencia adoptadas por la Reserva Federal. Con el tiempo, las tasas hipotecarias se dispararon en consonancia con la inflación vertiginosa y, en 2022, las tasas hipotecarias alcanzaron el nivel más alto visto desde 2002.
¿Con qué frecuencia cambian las tasas hipotecarias?
Mortgage rates are constantly fluctuating, and can even change by the hour. Lenders receive a new rate sheet each day. Though the rate doesn’t always fluctuate on a daily basis, it certainly can. It’s important to talk to your lender about el proceso de préstamo y fijar una excelente tasa lo antes posible cuando encuentre números favorables.
Las tasas hipotecarias pueden cambiar drásticamente en un corto período de tiempo. La hipoteca promedio a tasa fija a 30 años pasó de alrededor de 3% a principios de 2022 a 7% en octubre del mismo año. A partir del 19 de enero de 2023, el tasa hipotecaria fija promedio a 30 años fue de 5,81% en Texas, 11 puntos básicos menos que los 5,92% de la semana anterior. Esto es sólo dos puntos porcentuales más que el promedio nacional de 5.79% para el mismo día.
¿Son las tasas hipotecarias en Houston, Texas, las mismas para todos los prestatarios?
While you can quickly search the daily average mortgage rates in Houston, Texas, this doesn’t necessarily mean that you’re seeing the actual rate you’ll pay if you take out a mortgage at that time. Average mortgage rates are based on several assumptions, including the fact that you have a very good credit score of 740 or higher and an adequate down payment for your loan type. If this isn’t the case, your individual mortgage rate will likely differ from the averages you’re seeing online.
If you want to lower your mortgage rate, you’ll need to address the key factors that lenders look at for each individual, including:
- Puntaje de crédito: Cuanto mayor sea su puntaje crediticio, menor será la tasa hipotecaria. Su puntaje crediticio se basa en su historial de pagos, el monto que debe, la duración de su historial crediticio, la cantidad de crédito nuevo que tiene y la diversidad de sus líneas de crédito. De estos cinco factores, su historial de pagos y el monto que debe son los más importantes. Realizar pagos puntuales y liquidar su saldo general ayudará a mejorar significativamente su puntaje crediticio.
- Depósito: The greater your down payment, the smaller your loan amount. Therefore, a hefty down payment will always decrease your monthly mortgage payment even if it doesn’t lower your mortgage rate. A down payment often does lead to a lower rate, though, because borrowers who have the funds for a down payment are less likely to default on their loans.
- Tipo de ocupación: Lenders will likely change your mortgage rate based on the intended occupancy of the home. Rates are lowest for properties that will be used as primary residences since homeowners are most likely to stay on top of monthly payments for the place where they’re living. Rates are usually higher for an investment property or second home.
If you’re looking to buy a home, our team at Rock Mortgage can help you find the right loan program for your needs. We’ll assist you in preparing all your documents and securing the best mortgage rate possible.
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