Mortgage rates were nearly stagnant this week in Atlanta. Meanwhile, the ninth-largest home builder in the nation is creating a new regional headquarters in the city, according to the Atlanta Business Chronicle.
The company, Meritage Homes Corp., announced in a press release its $130 million purchase of Atlanta-based Legendary Communities. This provides the firm with a strong foothold in the South, in addition to its existing West, Central and East presence, the newspaper reported.
The benchmark 30-year fixed-rate mortgage in Atlanta remained at 4.33 percent, according to the Bankrate.com national survey of large lenders. The mortgages in this week's survey had an average total of 0.1 discount and origination points. Nationally, the 30-year fixed-rate mortgage was 4.31 percent.
According to the Journal, Atlanta had the country's second-largest and fastest-growing housing market in the nation based on single-family permits.
The benchmark 30-year jumbo mortgage, for loans of $417,000 and more, stayed at 4.31 percent. The benchmark 15-year fixed-rate mortgage remained at 3.38 percent. The benchmark 5/1 adjustable-rate mortgage rose to 3.46 percent from 3.38 percent.
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Weekly mortgage survey
|Results from Bankrate's July 16 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:||4.33%||3.38%||3.46%||4.31%|
|Change from last week:||N/C||N/C||+0.08||N/C|
|Change from last week:||N/C||N/C||+$7.37||N/C|