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Mortgage rates in Atlanta, Georgia

By Claes Bell · Bankrate.com
Thursday, September 29, 2016
Posted: 8 am ET

Several closely watched mortgage rates tapered off in the Atlanta area this week.

Key 30-year rate declines in Atlanta

The average rate on the benchmark 30-year fixed-rate mortgage rate for the Atlanta area declined to 3.81%, according to Bankrate's national survey of large lenders. While the local rate was above the national average rate of 3.54%, it was down 11 basis points from last week. A basis point is one-hundredth of 1 percentage point.

The mortgages in this week's survey had an average of 0.46 discount and origination points.

"The drop in the 30-year fixed is cause for celebration among those who waited to lock on a rate, as their gamble paid off," says Holden Lewis, Bankrate's senior mortgage analyst.

Monthly payments on a hypothetical $165,000 mortgage fell to $769.77, dropping $10.30 from last week, corresponding with the drop in mortgage rates.

Other Atlanta mortgage types decline

Jumbo mortgages are used for loan amounts above limits set by the Federal Housing Finance Agency; for the Atlanta area, that limit is $417,000.

The average rate for 15-year fixed-rate mortgages fell 8 basis points as well, falling to 2.98%. Monthly payments on a hypothetical $165,000, 15-year fixed-rate mortgage followed rates ticking downwards, decreasing $6.33 to $1,137.87.

"The 15-year fixed is a popular mortgage for homeowners who want to refinance. With this fall in the 15-year fixed, a refinance will be more attractive to some homeowners," Lewis says.

The benchmark 5/1 adjustable-rate mortgage rate diminished 2 points this week, dipping to 3.28%. 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 popular variety of variable-rate mortgage.

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Weekly mortgage survey

Results from Bankrate's survey of mortgage lenders conducted 9/28/2016. Monthly payments are for a $165,000 loan. The jumbo rate is for the minimum jumbo loan amount of $417,000 in the Atlanta area.
30-year fixed 15-year fixed 5-year ARM 30-year jumbo
This week's rate: 3.81% 2.98% 3.28% 3.50%
Change from last week: -0.11 -0.08 -0.02 -0.13
Monthly payment: $769.77 $1,137.87 $720.81 $1,872.52
Change from last week: -$10.30 -$6.33 -$1.81 -$30.13
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24 Comments
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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December 19, 2014 at 5:04 am

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Shawanna
July 08, 2013 at 2:03 am

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