This is historically an excellent time for homeowners in Texas to get their mortgage to refinance from a Texas mortgage broker. The reason is that the private banks that run the U.S. economy have taken interest rates down to their lowest levels in years. Therefore, you can get to know about the best home loan mortgage rates via

What does this mean to the average Texas homeowner?

It means it's a great time to eliminate unsecured debt, improve one's credit score, gain potential tax benefits, and lower monthly payments. And, if you're in an adjustable-rate mortgage, this is your chance to get out and lock in a fixed rate for the duration.

home loan mortgage rates

The most common reason that Texas homeowners refinance their homes today is to pull cash equity out of their homes and pay off unsecured credit card debt. This alone can have several benefits:

Lower interest and payments: Some credit card companies have raised interest rates to as much as 29% – on people who have good credit! If you read the fine print of most credit card agreements, you'll find that they can raise a customer's interest rate at any time for any reason. 

With a home equity line of credit, the interest rate is locked in for the duration of the loan and is lower – sometimes much lower – than what the average credit card interest is. This translates into lower payments each month.

– Improved credit score: Each time a loan is paid off, it shows up as a positive mark on your credit report. Although the home equity loan will show up, it is a secured line of credit, which is much more desirable to have on one's credit report than unsecured credit card debt.

– Tax advantages: Since the Tax Code was massively reformed under the Reagan Administration in 1982, working people no longer have the right to deduct credit card interest from their taxes. However, in most cases, the interest of a second mortgage is fully deductible from one's taxes.