Mortgage rates varied in Atlanta this week. Meanwhile, abandoned railroad tracks in the city are being transformed into functional green space, Fox News reports.
The project, called The BeltLine, is one of the largest urban renewal projects in the nation. Funding is being provided primarily by local taxes, along with federal funding, and private and public partnerships. The BeltLine will link 45 neighborhoods together and provide new parks, jobs and housing to the old rail tracks.
The benchmark 30-year fixed-rate mortgage in Atlanta remained at 4.07 percent, according to the Bankrate.com national survey of large lenders. The mortgages in this week's survey had an average total of 0.31 discount and origination points. Nationally, the 30-year fixed-rate mortgage was 4.03 percent.
The benchmark 30-year jumbo mortgage, for loans of $417,000 and more, grew to 4.13 percent from 4.06 percent. The benchmark 15-year fixed-rate mortgage inched down to 3.25 percent from 3.26 percent. The benchmark 5/1 adjustable-rate mortgage rose to 3.23 percent from 3.21 percent.
Weekly mortgage survey
|Results from Bankrate's May 20 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:||4.07%||3.25%||3.23%||4.13%|
|Change from last week:||N/C||-0.01||+0.02||+0.07|
|Change from last week:||N/C||-$0.80||+$1.81||+$17|