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Mortgage rates in Atlanta, Georgia

By Clare Mallen · Bankrate.com
Thursday, June 23, 2016
Posted: 7 am ET

Mortgage rates rose in Atlanta this week. Meanwhile, the city ranked 8th in the nation for locales where owning a home is more affordable than renting, the Atlanta Business Chronicle reports.

Online residential real estate site Zillow determined which areas in the country were "sweet spots" for home ownership, where buying is a better financial decision than renting and which cities this is financially feasible. First, they analyzed the largest U.S. metro areas to determine where owning is more affordable than renting. Then they looked at which markets were noting a strong growth in income and employment.

Nationally, the "breakeven horizon" for homebuyers is a year and 8 months, employment growth is 2% and income growth is 2.3%. Atlanta landed on the list in the 8th spot with a "breakeven horizon" of a year and 4 months, 3.1% employment growth and 0.5%income growth, the Chronicle notes.

This week's rates

The benchmark 30-year fixed-rate mortgage in Atlanta grew to 3.95% from 3.92%, according to Bankrate.com's weekly national survey of large lenders. The mortgages in this week's survey had an average total of 0.57 discount and origination points. Nationally, the 30-year fixed-rate mortgage was 3.73%.

More rates

The benchmark 30-year jumbo mortgage, for loans of $417,000 and more, increased to 3.63% from 3.56%. The benchmark 15-year fixed-rate mortgage advanced to 3.10% from 3.06%. The benchmark 5/1 adjustable-rate mortgage inched up to 3.30% from 3.28%.

Weekly mortgage survey

Results from Bankrate's June 22 survey of mortgage lenders. Monthly payments are for a $165,000 loan. The jumbo rate is for the minimum jumbo loan amount of $417,000 in Atlanta.
30-year fixed 15-year fixed 5-year ARM 30-year jumbo
This week's rate: 3.95% 3.10% 3.30% 3.63%
Change from last week: +0.03 +0.04 +0.02 +0.07
Monthly payment: $782.99 $1,147.41 $722.63 $1,902.91
Change from last week: +$2.85 +$3.19 +$1.82 +$16.47
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15 Comments
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

homepage
December 19, 2014 at 5:04 am

Hello your blog is good for us. I (will|wanna) thank you for it.

Shawanna
July 08, 2013 at 2:03 am

a definite okay view of Mortgage rates in Atlanta, Georgia Bankrate, Inc. Perfect adore it

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