With the current national average price of gas hovering around $3, it's hard to believe that we once paid only 23 cents a gallon in the 50's!
Houston has fared better than the national average. The average price for a gallon of gasoline in Houston is $2.53, and motorists in Galveston are paying the same reports the Houston Business Journal.
Houston area gas prices have been relatively steady after experiencing a small jump, according to the AAA Texas Weekend Gas Watch.
Overall, the state average remains unchanged at $2.57 a gallon, while the national average is down 2 cents to $2.71 per gallon.
While we'll never see gas prices return to 50's levels, mortgage rates have returned to the record lows of that era. Really, mortgage rates haven't been this low since Eisenhower was president!
Historic Houston Refinance Mortgage Rates
Like gas in the 50's, mortgage rates are at historic lows. No one is sure how long low mortgage rates are going to last, but there's no denying that the time to get started on that home refinance you've been wondering about is right now.
While many are extremely cautious with any large financial decisions because of the faltering economy, I think everyone should at least consider refinancing before rates go back up. As mortgage expert and President of Quicken Loans Jay Farner says, "Rates may never be this low again!"
Work with a Houston Refinance Mortgage Expert
Evaluate your financial situation and see if a Houston refinance mortgage is the right choice. A Houston Refinance Mortgage will save you cash by lowering your monthly mortgage payment. Depending on your financial situation, you could save thousands in interest by locking-in a lower rate.
As a Quicken Loans home loan expert licensed in Houston, I have helped many clients buy a new home or refinance into a lower monthly mortgage payment. Whether you're looking for FHA loans, VA Loans, fixed-rate, or adjustable rate mortgages, if you're ready to move forward get in touch with me at Quicken Loans today!
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