Laredo, Texas 30-Year Fixed Mortgage Rates 2020

Compare Texas 30-Year Fixed Conforming Mortgage rates with a loan amount of $250,000. Use the search box below to change the mortgage product or the loan amount. Click the lender name to view more information. Mortgage rates are updated daily.

30-Year Mortgage Average Rate Trends History Chart 2018

Laredo, Texas 30-Year Fixed Conforming Mortgage

Lender APR Rate (%) Points Fees Monthly
Learn More Amortization
NMLS ID: 2890
License#: NMLS# 2890
2.951% 30 Yr Fixed 1.00 $2,460 $1,038 Learn More
Bank of America, N.A.
30 Yr Fixed
1.00 $4,004 $1,106

Data from above provided by Informa Research Services, Inc.1

Jpmorgan Chase Bank, National Association
Updated 06/02/2020
3.09% 3.00% 0.00 $0.00 $1,054.01
Wells Fargo Bank, National Association
Updated 07/07/2020
3.11% 3.00% 0.00 $0.00 $1,054.01
Pentagon Credit Union
Updated 06/25/2020
3.02% 3.00% 0.00 $2,784.00 $1,054.01
Bank Of America, National Association
Updated 05/07/2020
3.57% 3.38% 0.82 $0.00 $1,105.93
Randolph-brooks Credit Union
Updated 04/01/2020
3.69% 3.63% 0.00 $2,784.00 $1,140.83
Texas Dow Employees Credit Union
Updated 08/27/2019
3.91% 3.75% 0.00 $0.00 $1,157.79
Security Service Credit Union
Updated 08/27/2019
3.93% 3.88% 0.00 $0.00 $1,175.59
Usaa Federal Savings Bank
Updated 06/05/2019
4.02% 3.88% 0.75 $0.00 $1,176.31
Comerica Bank
Updated 06/25/2019
4.17% 4.10% 0.00 $0.00 $1,208.00
Updated 06/25/2019
4.91% 4.75% 0.00 $3,874.00 $1,304.12
Mufg Union Bank, National Association
Updated 06/25/2019
5.45% 5.38% 0.00 $3,874.00 $1,400.71

Data provided by BestCashCow

1Data provided by Informa Research Services. Payments do not include amounts for taxes and insurance premiums. The actual payment obligation will be greater if taxes and insurance are included. Click here for more information on rates and product details.

Rates from this table are based on loan amount of $250,000 and a variety of factors including credit score and loan to value ratios. Rates may change at any time and are not guaranteed to be correct. For specific requirements please check with the lender.


Starting Your Search for the Best Mortgage Rates 2020

Once you have found and purchased the home of your dreams, you will need to protect your investment. You will need a good understanding of the best type of loan for you as well as prevailing mortgage rates.

Securing the best mortgage isn’t simply about finding a lender who offers you the best rate. Taking out a mortgage can be a time-consuming, confusing, and even emotional process. The best mortgage lenders will guide you through the complex process with ease and treat you with respect. This makes finding the best rates from top mortgage lenders a little bit tougher than finding, say, the Best Credit Card for earning travel rewards, the Highest Yielding Online Savings Account Account or the Highest Yielding CD.

In addition to searching for the best rate, you will want to improve your credit score, identify the maximum down payment you can make and determine how long you will be in your house or apartment. Based on these factors, the following are the types of mortgage products you may wish to consider.

Fixed-rate mortgages

While fixed-rate mortgages are by far the most common type of home loan. It’s also the easiest to understand. While the proportion of your loan that is amortized will increase each month (versus interest on the balance), you still pay the same amount every month. Your interest rate is locked in when you close on the loan, so you aren’t vulnerable to sudden increases in interest rates.

Fixed-rate mortgages ordinarily require a 20% down payment (or that you pay for mortgage insurance) and are most often offered for 10-, 15- or 30-year terms, with the latter being the most popular choice. Longer terms generally mean lower payments, but they also mean it will take longer to build equity in your home. You will also pay more interest over the life of the loan.

The BestCashCow mortgage calculator is a great way to examine the amortization schedule that you will have for different fixed rate mortgage lengths and balances (hyperlink-

Adjustable-rate mortgages (ARMs)

Typically, ARMS offer lower initial interest rates, and sometimes lower initial payments than fixed rate mortgages, making it easier for a wider range of people to qualify for better homes. The interest rate remains constant for a certain period of time, most commonly 7 or 10 years although shorter and longer terms are often available. Generally, the shorter the period, the better the rate — then rises and falls periodically according to a financial index.

ARMs offer a fantastic opportunity for homeowners to get rates lower than would be available in a fixed rate product, and are ideal for those who are not planning to be in the home for more than the term for which rates are fixed, or those who will be able to pay off the mortgage should rates rise. If you don’t fit that criteria, you run that risk of your ARM beginning to adjust when interest rates are climbing in which case your payments could be adjusted upwards quite sharply. While most products have terms limited them to more than a 2% annual increase (or decrease), given that interest rates on fixed products are currently so low, you may find yourself several years out regretting that you did not lock into a fixed rate product.

Interest-only mortgages (IOs)

Interest-only mortgages are technically a type of ARM on which only the interest is charged each month, but the outstanding loan amount does not begin to amortize until after the interest-only period (usually 5 years). These mortgages are compelling because they allow home buyers to pay only interest for a certain period at the beginning of the loan, keeping payments as low as possible. They can be a good choice for someone who expects a significant increase in income down the pike, but they are the worst choice for those seeking to build equity in their homes. They can also lead people to mistakenly buy more expensive homes than they can afford. Once the interest-only payment period is up, your payment can jump significantly when you begin to pay the principal of the loan, plus you can experience a rate increase.

FHA and VA loans

FHA and VA loans are government-backed mortgages. FHA loans require much smaller down payments than their conventional counterparts and can often be good option for those with a steady, healthy income without enough savings for a huge down payment (often as little as 2.5% down). The drawback of FHA loans is that you will likely be responsible for mortgage insurance each month in order to help the lender blunt some of the risk. VA loans are also available to those with a military affiliation and offer with low (or even no) down-payment options, minus the mortgage insurance required on FHA loans. However, the VA typically charges a one-time funding fee that varies according to down payment amount.

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Products by State

Frenetic Construction on New York’s Billionaires Row Is a Disaster Waiting to Happen

From my office, I am perched in a position where I can see all of the construction in midtown Manhattan.   I saw the crane blow over on top of the Park Hyatt in September 2012 two days before we were struck by Superstorm Sandy.

I think that that may pale in comparison with what is going on now.

There are three major building sites that are each already extending well over 1400 feet into the sky and not topped out.   If you look at the picture above, you will see cranes high into the sky and these are from left-to-right:

111 West 57th Street

53 West 53rd Street (the Jean Nouvel Moma Tower)

The Park Hyatt (completed in 2013)

Central Park Tower (255 West 57th Street)

There are many more high-rise projects throughout Manhattan that aren’t even visible here.

As we head through the summer, we are seeing a perfect storm - rising interest rates, an overbought New York property market at its highest levels, and more-and-more very high-end inventory properties flooding the market (with fewer and fewer non-US buyers).   Developers are eager to close to maintain (avoid losing) the contracts they have and to try to battle upon completion for the last remaining bits.

I see all these cranes working at a frenetic pace every morning, lifting extraordinarily heavily machinery.

While construction in New York is very tightly regulated, the pace is unparalleled and I am afraid we could see one or more very serious accidents here very soon.

What to Consider as Rates Rise: Fixed-Rate Mortgages vs. ARMs

Buying a home means more than just committing to raising a family or living out one’s golden years in a particular house. It usually comes with financial obligations in the form of a mortgage. It is therefore important to prepare for the possibility that mortgage interest rates that have been at records lows for years may be rising soon.  In particular, this could affect how a new homebuyer approaches whether to consider adjustable rate mortgages (ARMs) in addition to fixed-rate mortgages

Fixed-rate mortgages

A fixed-rate mortgage is the most traditional form of a mortgage, locking in both the interest rate and monthly payments for the life of the loan.   These mortgages can vary in length.  The standard is the 30-year mortgage, but a 15-year fixed mortgage offers purchasers a quicker amortization schedule and ownership timeline.

Regardless of the length, many prefer a fixed rate mortgage because the repayment obligations are clear from the amortization table.  They do not change the course of the loan, offering borrowers predictability —offering the peace of mind that comes with stability and avoiding interest rate fluctuations. 

To be clear, fixed rate mortgages can be appealing if you think rates are lower now than they will be in the future. With rates near historical lows and seemingly poised to rise, locking in a rate could make sense for many borrowers now.

Adjustable-rate mortgages (ARMs)

An adjustable-rate mortgage (ARM), unlike a fixed rate mortgage, has a fixed interest rate for a few years with the 5-year ARM being the most popular (3, 7 and 10-year ARMs are also common) with the amortization ordinarily extending over 30 years.   Once this initial fixed rate period ends, the monthly payments will vary as market rates change.  While many ARMs offer limits on how much your rate might increase in a given adjustment period or over the life of the loan, a purchaser selecting an ARM should understand that if rates rise from these levels there interest obligations (i.e., monthly payments) may reset at much higher levels.

For those planning to stay in their home beyond the fixed period at the beginning of an ARM, the risk to rising rates at this point in the interest rate cycle may offset any advantage to reducing near term interest payments.   Even if you might have been more likely to take on the benefits of an ARM mortgage, a fixed rate at this point may just offer you more safety, security and flexibility. 

Start exploring rates where you live here.

Are Higher Mortgage Rates on the Way?

When the Federal Reserve acted to raise the Fed Funds rate in June 2017, it set the new Fed Funds target rate at 1.00 to 1.25%.   While, this marked the fourth rate increase since the beginning of 2016 (and since the Fed had lowered rates to zero during the financial crisis), mortgage rates have remained at or near their all-time lows.  Therefore, the news continues to be good news for potential homebuyers and those who may be looking to refinance.

Mortgage rates have not yet risen because they are tied to 30-year US Treasury Notes.   US Treasuries remain below 3% as central bankers worldwide continue to engage in monetary and fiscal policy designed to stimulate their economies (and to keep their currencies from appreciating).

The Federal Reserve however continues to guide towards one more increase in the Fed Funds rate at the end 2017, 3 more in 2018, and a Fed Funds target rate of 3% by 2019.   Some economists and analysts believe that a 30-Year US Treasury rate over 4% before the end of 2017 is possible.  The US Treasury rate could reach 5 to 5.50% by 2019.

Moreover, it is important to note that the Federal Reserve now holds over $1.7 billion in mortgage-backed securities (MBS).  The Federal Reserve began purchasing these securities in 1998 and purchased them in earnest during the financial crisis of 2009.   The Fed has been the longest lasting purchaser in MBS markets and has provided its largest source of funds.  It is now ending its purchases, but in its June statement, the Fed indicated that it will be a net seller of MBS securities for the foreseeable future.      

If you have been postponing refinancing, this could be your final chance to get in before rates begin to really rise to normalized post-crisis levels.

If you are a potential first-time homebuyer or someone considering a second home, you should also be mindful of current rates and the risk of a real rise in the coming months.  However, the caveat here is that if rates rise, we will see home prices fall, making them more affordable. 

Some economists, in fact, fear that a rise of the 30-Year US Treasury to 5.50% will derail the US homebuilding industry and have severe implications for the US economy in 2019. 

It is my prediction, however, that the Fed may not raise as aggressively as it is currently targeting if Janet Yellen resigns as Chairman of the Federal Reserve and is replaced by Gary Cohn who is actively lobbying Trump for the position.  In addition, Minneapolis Fed President Neel Kashkari is also in the mix and has turned very dovish, having now dissented on the last two Fed moves.  To boot, inflation expectations are contained.

Whatever happens, we are certainly in for some interesting times in the mortgage industry. Be sure to check rates frequently here to know where things are heading.