Mortgage Rates Dip Below 4% Threshold

Mortgage Interest Rates Dip to Below 4%Borrowing costs sank to the lowest amounts in more than a year as the 30-year-fixed rate mortgage averaged 3.97 percent this week, Freddie Mac reports in its weekly mortgage market survey. The 30-year fixed-rate mortgage is at its lowest average since the week of June 20, 2013, when it averaged 3.93 percent.

Austin pie slingers named to list of nation's hottest pizzerias....

Two Austin pizzerias, Brick Oven and Roppolos Pizzeria, made Pizza Today's list of the

Austin's Unemployment Rate Drops 1%; Now 4.2%

Austin‘s unemployment rate has fallen a whole percentage point since this time last year, now down to 4.2%, which is also down from 4.6% last month, according to the Texas Workforce Commission. Local employers added 8,400 jobs in September.

Texas as a whole is also down 1% from last year at this time, the State rate now 5.2%.

Texas also reached a labor milestone in September, with the state's civilian labor force population topping 13 million for the first time.

Behind the Texas Housing Boom

More Americans are heading to the Lone Star State, with Texas having the largest net gain of new residents than any other state in the latest Census and boasting some of the fastest-growing major cities. Texas saw a net gain of more than 387,000 residents in the latest Census for 2013. Austin has become the fastest-growing major city, too.

During the years of the housing boom, populations grew the fastest in high-priced markets such as New York and San Francisco. But now those population gains are heading to Texas and other heartland states, such as Oklahoma and Utah.

Feast for the eyes: AIA Home Tour on tap for Oct. 25-26....

One of the most anticipated home tours in Central Texas each year is sponsored by the

Economist Praises Austin's Market But Some Possible Growth Challenges Ahead

Research Economist Jim Gaines, speaking about the Austin housing market at the Austin Board of Realtors annual Realty Roundup event, said Austin is doing so well that it “is the easiest presentation I’ve ever made” However, he saw some future challenges for Austin for the rest of this decade and possibly future decades, including:

Lending Giants Shy Away From FHA Loans

The nation’s largest home lenders are curtailing their involvement in Federal Housing Administration loans, known for their small down payment requirements and help to first-time buyers and lower-income Americans. Lenders say they are concerned that they will be penalized if underwriting errors occur and the loans default. Therefore, they’re backing away from issuing the loans.

New 39-story condo will grace corner of West Ave. and W. 5th St.....

Renderings provided by TiltpixelRenderings provided

Austin Ranked #2 In College Destination Index

Austin metro came in at #2 in the mid-sized metro college destinations rankings, undertaken by the American Institute of Economic Research, with San Jose, CA coming in at #1.

The College Destinations Index ranks locales by the number of college students per capita, the cost of housing for a two-bedroom apartment, walkability, culture, economic health, and research and development dollars available per student, among others.

EPA Encouraging Green Infrastructure, Climate Resiliency in Austin

The U.S. Environmental Protection Agency (EPA) announced that Austin will receive assistance to develop infrastructure that will contribute to greener, more vibrant neighborhoods and the ability to adjust in the wake of climate change.

“Austin serves as a model for many cities in how it plans for growth,” said Regional Administrator Ron Curry. “By building resiliency from the many challenges of climate change, Austin will ensure its neighborhoods thrive as the economy continues to expand.”


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