Mortgage rates varied in Atlanta this week. Meanwhile, an Atlanta mansion sold for a record $17.5 million, the Atlanta Business Chronicle reports.
Entertainment mogul Tyler Perry's home on Paces Ferry Road in Atlanta was listed for sale at $25 million and just sold for $17.5 million. Built in 2007, the home boasts 7-bedrooms with 34,688-square-feet, situated on 17 acres. Amenities include a theater, spa, lighted tennis court, infinity swimming pool, gym, underground ballroom and a caretaker's suite. The French Provincial estate has its own guard house, high-level security, generator and 2 gated entrances.
According to Sotheby's, citing the First Multiple Listing Service, the highest sale in Atlanta's history was a Buckhead estate that sold for $10.5 million in 2009. This sale of $17.5 million breaks that record and becomes the highest residential home sale in the city's history, the Chronicle notes.
This week's rates
The benchmark 30-year fixed-rate mortgage in Atlanta rose to 4.03% from 3.99%, according to Bankrate.com's weekly national survey of large lenders. The mortgages in this week's survey had an average total of 0.43 discount and origination points. Nationally, the 30-year fixed-rate mortgage was 3.76%.
The benchmark 30-year jumbo mortgage, for loans of $417,000 and more, remained at 3.75%. The benchmark 15-year fixed-rate mortgage remained at 3.10%. The benchmark 5/1 adjustable-rate mortgage climbed to 3.46% from 3.35%.
Weekly mortgage survey
|Results from Bankrate's May 18 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:||4.03%||3.10%||3.46%||3.75%|
|Change from last week:||+0.04||N/C||+0.11||N/C|
|Change from last week:||+$3.82||N/C||+$10.14||N/C|