by Ben Morton Rates improved a bit this week. We are certainly hearing alot about the proposed stimulus plan. Included in what we are hearing is, the Senate voted to include a tax credit up to 10% of the value of new or existing residences with a cap of $15,000. This is good, especially if rates keep going down. All we can do is wait to hear how Congress responds. Clearly there are major strides to spark the housing industry. For now, rates are as follows: CONFORMING 30 Yr Fixed 5.000%, 1 pt. 15 Yr Fixed 4.750%, 1 pt. JUMBO 7 Yr ARM 5.550, 1 pt. Note: The Austin Mortgage Rate Update is provided by Ben Morton. Great Austin Properties, LLC does not receive any monetary gain nor do we guarantee the rates quoted above. We provide this information to you to help keep you informed of the Austin market.