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Mortgage rates in Atlanta, Georgia

By Clare Mallen · Bankrate.com
Thursday, February 11, 2016
Posted: 7 am ET

Mortgage rates mostly fell in Atlanta this week. Meanwhile, renting in Atlanta is pricey, The Atlanta Journal-Constitution reports.

According to a report from the National Low Income Housing Coalition, in order to afford -- or, not spend more than 30% of one's income -- to rent a 2-bedroom apartment in Atlanta, one would have to earn $17.62 an hour. That is more than double the federal minimum wage.

The report notes that the state average for this housing wage is $15.71 per hour, which places Georgia 26th nationally and one of the most expensive in the South, the AJC reports. Nationally, the housing wage is $19.35 an hour.

This week's rates

The benchmark 30-year fixed-rate mortgage in Atlanta fell to 4.02% from 4.1%, according to Bankrate.com's weekly national survey of large lenders. The mortgages in this week's survey had an average total of 0.45 discount and origination points. Nationally, the 30-year fixed-rate mortgage was 3.78%.

More rates

The benchmark 30-year jumbo mortgage, for loans of $417,000 and more, remained at 3.56%. The benchmark 15-year fixed-rate mortgage decreased to 3.21% from 3.27%. The benchmark 5/1 adjustable-rate mortgage dropped to 3.37% from 3.47%.

Weekly mortgage survey

Results from Bankrate's Feb. 10 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: 4.02% 3.21% 3.37% 3.56%
Change from last week: -0.08 -0.06 -0.1 N/C
Monthly payment: $789.64 $1,156.20 $729 $1,886.51
Change from last week: -$7.60 -$4.80 -$9.10 N/C
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July 08, 2013 at 2:03 am

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