Texas Housing Market Data |
| Housing Market Data |
Texas |
| Population |
14,211,069 |
| Median Age |
35 |
| Median Household Income |
$38,476 |
| Total Housing Units |
2,687,663 |
| Average Home Price |
$108,559 |
| Owner Occupied |
61% |
| Education Levels |
Texas |
| K-12 |
31% |
| High School Diploma |
16% |
| College Graduate |
9% |
| Post Graduate |
3% |
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Sources:
U.S. Census Bureau
Data aggregated from real estate market resources.
Texas Mortgage Loan Rates
Builders that cater to entry-level and first-time move-up buyers seem to benefit most from the low Texas mortgage loan rates environment. In order to get the lowest mortgage rate available, one should always compare rates. When you compare the different low mortgage rates, you can see which lender is willing to give you the lowest Texas Mortgage Loan Rates. Just because one lender gives you the lowest mortgage rate at the time, does not mean that you have to settle for that. Getting the lowest mortgage rates in texas from one lender only means that you have more room to negotiate for the lowest mortgage rate possible with another lender. The continued low mortgage rate environment is catching many analysts and economists by surprise.
Texas Home Equity Loans
The home equity loans in Texas market is gathering momentum, because of the low interest rates. There are not enough new homebuyers to make up for the fall in refinancing activity. Lending activity for new mortgages is expected to remain level this year, and refinancing is expected to continue to be low, because the low interest rates are not appealing to homeowners who have already refinanced once. Refinancing accounted for about 71% of all mortgage transactions in the first quarter of 2003. Now more and more mortgage lenders are focusing on adjustable rate mortgages, balloon mortgages and home equity loans, including lines of credit that became legal in Texas in September 2003. Banks and lenders are focusing more on home equity products in 2004, because the low interest rates are making this type of borrowing more attractive to consumers.
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