Mortgage rates plummeted this week in Atlanta. Meanwhile, Walmart is building a huge e-commerce center near the city's international airport, according to the Atlanta Business Chronicle.
Construction recently began on a 1.2 million-square-foot building in Union City, about 6 miles from the airport. Amazon.com also launched its new warehouse in the vicinity earlier this year. Atlanta is having one of its busiest times of new industrial development since the recession ended, the Chronicle noted.
The benchmark 30-year fixed-rate mortgage in Atlanta slumped to 3.92 percent from 4.17 percent, according to the Bankrate.com 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 4.01 percent.
Walmart has e-commerce websites in 10 countries and employs 2.2 million associates globally, according to the company website.
The benchmark 30-year jumbo mortgage, for loans of $417,000 and more, sunk to 4.06 percent from 4.28 percent. The benchmark 15-year fixed-rate mortgage fell to 3.08 percent from 3.36 percent. The benchmark 5/1 adjustable-rate mortgage tumbled to 3.05 percent from 3.23 percent.
Shop mortgage rates in your area.
Weekly mortgage survey
|Results from Bankrate's Oct. 15 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:||3.92%||3.08%||3.05%||4.06%|
|Change from last week:||-0.25||-0.28||-0.18||-0.22|
|Change from last week:||-$23.47||-$22.16||-$15.97||-$52.72|