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Mortgage rates in Atlanta

By Claes Bell · Bankrate.com
Thursday, August 17, 2017
Posted: 9 am ET

Mortgage rates showed no clear direction in the Atlanta area this week.

Benchmark 30-year rate stays flat in Atlanta

The average rate on the benchmark 30-year fixed-rate mortgage rate for the Atlanta area held at 4.25 percent, according to Bankrate's national survey of large lenders. The local rate eclipsed the national rate of 4.05 percent.

In this week's survey, the mortgages had an average of 0.43 discount and origination points.

With the most popular mortgage rate unchanged, it's neither good news nor bad news for potential borrowers who were waiting to lock a mortgage rate.

Monthly payments on a hypothetical $165,000 30-year fixed-rate mortgage were also consistent, staying at $811.70.

Other Atlanta mortgage types decline

Breaking ranks with the 30-year conventional mortgage the average rate for 30-year jumbo mortgages fell this week, down 6 basis points to 4.00 percent. Jumbo mortgages are used for loan amounts above limits set by the Federal Housing Finance Agency; for the Atlanta area, that limit is $424,100.

The average rate for 15-year fixed-rate mortgages declined 4 basis points as well, reaching 3.35 percent. Monthly payments on a hypothetical $165,000, 15-year fixed-rate mortgage followed rates ticking downwards, falling $3.22 to $1,167.44.

The 15-year fixed is a popular mortgage for homeowners who want to refinance. With this decrease in the 15-year fixed, a refinance will be more beneficial to some homeowners.

The benchmark 5/1 adjustable-rate mortgage rate fell to 3.93 percent this week, a drop of 3 basis points. 5/1 adjustable-rate mortgages allow property owners to pay a fixed rate for the first 5 years, and the rate adjusts once per year every year after. They are the most common variety of variable-rate mortgage.

Compare mortgage rates in your area now.

Weekly mortgage survey

Results from Bankrate's survey of mortgage lenders conducted August 16, 2017. Monthly payments are for a $165,000 loan. The jumbo rate is for the minimum jumbo loan amount of $424,100 in the Atlanta area.
30-year fixed 15-year fixed 5-year ARM 30-year jumbo
This week's rate: 4.25% 3.35% 3.93% 4.00%
Change from last week: N/C -0.04 -0.03 -0.06
Monthly payment: $811.70 $1,167.44 $781.09 $2,024.72
Change from last week: N/C -$3.22 -$2.84 -$14.64

Methodology: The "Bankrate.com National Average," or "national survey of large lenders," is conducted weekly. To conduct the National Average survey, Bankrate obtains rate information from the 10 largest banks and thrifts in 10 large U.S. markets. In the Bankrate.com national survey, our Market Analysis team gathers rates and/or yields on banking deposits, loans and mortgages. We've conducted this survey in the same manner for more than 30 years, and because it's consistently done the way it is, it gives an accurate national apples-to-apples comparison.

To learn more about the different rate averages Bankrate publishes, see "Understanding Bankrate's Rate Averages."

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30 Comments
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April 23, 2017 at 3:22 am

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Arnulfo Vittorio
August 28, 2016 at 3:53 pm

Looking for current mortgage rates in Atlanta, GA? Here’s how to use our mortgage rate tool to find competitive interest rates.

johnjeremy
July 22, 2016 at 5:33 am

Do you need a loan if yes contact

Eduardo
April 29, 2016 at 12:10 pm

Is there a way to track the Atlanta area interest rate for the last 90 days? Trying to decide if I should lock in a rate.
Do you also have a source for 20 year fixed?

Derek Miller
April 05, 2016 at 10:13 am

I have been renting to long need to buy this home thank you

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July 08, 2013 at 2:03 am

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