Mortgage rates mostly rose this week in Atlanta. Meanwhile, the Atlanta Business Chronicle reported a Midtown condo sold for a record-setting $2.25 million.
The condo is located on the 47th floor of Above the Four Seasons Residence on 14th street, sitting atop the city's only five-star hotel, according to the residence website. The condo broker reported this unit has four bedrooms, three bathrooms and two half-baths in 3,138 square feet and encompasses the entire south side of the 47th floor.
Recently renovated, the condo has four balconies, walk-in wine cellar, Baccarat chandeliers and custom cabinetry. Additionally, the building offers underground reserved parking, a 24-hour doorman and membership to the Four Seasons Health club.
The Chronicle noted that this sale at $717 per square foot is the highest price ever paid per square foot in Midtown. The previous record was a 12,158-square-foot unit in the same building that was sold in 1995 for $3.4 million.
The benchmark 30-year fixed-rate mortgage in Atlanta inched up to 3.83 percent from 3.8 percent, according to the Bankrate.com national survey of large lenders. The mortgages in this week's survey had an average total of 0.24 discount and origination points. Nationally, the 30-year fixed-rate mortgage was 3.81 percent.
The benchmark 30-year jumbo mortgage, for loans of $417,000 and more, remained at 4 percent. The benchmark 15-year fixed-rate mortgage grew to 3.17 percent from 3.12 percent. The benchmark 5/1 adjustable-rate mortgage rose to 3.29 percent from 3.25 percent.
Weekly mortgage survey
|Results from Bankrate's Jan. 21 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:||3.83%||3.17%||3.29%||4%|
|Change from last week:||+0.03||+0.05||+0.04||N/C|
|Change from last week:||+$2.83||+$4||+$3.64||N/C|