Mortgage rates hit new record lows, with the 30-year fixed rate dropping to 3.94% and the 15-year fixed rate falling to 3.21%. Refinancing applications are up over 9% while purchase applications decreased by over 8%. Texas led job growth in the U.S. from 2010-2011, accounting for 1 in 5 new jobs nationwide. Houston and Dallas alone made up 1 in 10 new U.S. jobs during this period. Houston real estate market data for the week ending December 11, 2011 showed new listings down 16.9% but pending sales up 25.6% while closed sales rose 7.2% compared to the same week in 2010.

1. Rate on 30-Year Mortgage Ties Record Low The average interest rate on a 30-year fixed-rate mortgage has once again dropped to 3.94%, tying a record low set in October. Freddie Mac's weekly survey pegged the rate for a 15-year fixed-rate mortgage at a record low of 3.21%. Loans fixed for five years before becoming adjustable also set a new record, with an average start rate of 2.86%. Mortgage applications have risen slightly in recent weeks, but are up from extremely low levels, according to the Mortgage Bankers Association. Refinancings are currently up more than 9 percent, while loan applications to buy homes fell more than 8 percent.

2. Texas Dominates Employment Survey Texas accounted for one in every five jobs created in the U.S. between June 2010 and June 2011, according to a new survey by the Milken Institute. Houston and Dallas alone were responsible for one in every 10 new jobs in the country. Texas cities dominated the top of the Best-Performing Cities list, with San Antonio ranking No. 1, El Paso No. 2, and Austin-Round Rock and Killeen-Temple-Fort Hood coming in at Nos. 4 and 5 respectively. Houston ranked 16th overall, but was No. 1 from among the nation's 10 largest metropolitan areas.

3. Weekly HAR Market Stat Buyers outpaced their year-ago activity levels while seller activity retreated compared to the same week in 2010. With a flurry of reassuring U.S. economic data out last week, some consumers were likely armed with renewed confidence about the future. It's a good bet that buyers will have fewer options to choose from in 2012 and sellers will have less competition to contend with. In the Houston region, for the week ending December 11: • New Listings decreased 16.9% to 1,466 • Pending Sales increased 25.6% to 1,113 • Closed Sales increased 7.2% to 851

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