Austin loan guy John Schutze shares his weekend mortgage rate update:

œMortgage rates remain mostly unchanged this week.

After falling a bit Monday and Tuesday, rates lost ground as we end the week. As we mentioned last week, the Fed began to sell up to $110B of Treasury Notes this week which can divert investor attention away from Mortgage Bonds.

The demand has been low so far with only 40% being sold to foreign buyers. Foreign purchasing of US based securities including Mortgage Bonds is a major factor keeping rates low.

It’s probably a good time to lock in these rates while we are near 5%!

John helps with loans at Bank of America and writes a blog about Austin mortgages. He’s a good resource to ask more about the TDHCA 90 day downpayment loan program which allows first time buyers to borrow the federal tax credit for use in their closings.

An Austin Realtor is a   Realtor ® in Austin, Texas. You can search Austin homes for sale at his website.

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