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Mortgage rates in Atlanta

By Claes Bell · Bankrate.com
Thursday, April 20, 2017
Posted: 9 am ET

Several closely-watched mortgage rates dropped in the Atlanta area this week.

Key 30-year rate falls in Atlanta

According to Bankrate's national survey of large lenders, the average rate on the benchmark 30-year fixed-rate mortgage rate for the Atlanta area ticked downwards to 4.27 percent. While the local rate was down 6 basis points from last week, it was still more than the national average rate of 4.16 percent. A basis point is one-hundredth of 1 percentage point.

In this week's survey, the mortgages had an average of 0.58 discount and origination points.

"The drop in the 30-year fixed is cause for celebration among those who waited to lock on a rate, as that turned out to be a smart bet," says Holden Lewis, Bankrate's senior mortgage analyst.

Monthly payments on a hypothetical $165,000 mortgage slid to $813.63, decreasing $5.79 from last week, corresponding with the slip in mortgage rates.

Other Atlanta mortgage types fall

The average rate for 30-year jumbo mortgages fell this week, down 7 basis points to 4.06 percent. Jumbo mortgages are used for loan amounts above limits set by the Federal Housing Finance Agency; for the Atlanta area, that limit is $424,100.

The average rate for 15-year fixed-rate mortgages ticked downwards 9 basis points as well, reaching 3.33 percent. Monthly payments on a hypothetical $165,000, 15-year fixed-rate mortgage followed rates ticking downwards, dipping $7.23 to $1,165.83.

"The 15-year fixed is a popular mortgage for homeowners who want to refinance. With this decrease in the 15-year fixed, a refinance will be more tempting to some homeowners," says Lewis.

The benchmark 5/1 adjustable-rate mortgage rate fell to 3.72 percent this week, a drop of 2 basis points. The most common type of variable-rate mortgage, 5/1 ARMs allow homeowners to pay a fixed rate for the first 5 years, and the rate adjusts once per year every year after.

Compare mortgage rates in your area now.

Weekly mortgage survey

Results from Bankrate's survey of mortgage lenders conducted April 19, 2017. Monthly payments are for a $165,000 loan. The jumbo rate is for the minimum jumbo loan amount of $424,100 in the Atlanta area.
30-year fixed 15-year fixed 5-year ARM 30-year jumbo
This week's rate: 4.27% 3.33% 3.72% 4.06%
Change from last week: -0.06 -0.09 -0.02 -0.07
Monthly payment: $813.63 $1,165.83 $761.33 $2,039.42
Change from last week: -$5.79 -$7.23 -$1.87 -$17.14

Methodology: The "Bankrate.com National Average," or "national survey of large lenders," is conducted weekly. To conduct the National Average survey, Bankrate obtains rate information from the 10 largest banks and thrifts in 10 large U.S. markets. In the Bankrate.com national survey, our Market Analysis team gathers rates and/or yields on banking deposits, loans and mortgages. We've conducted this survey in the same manner for more than 30 years, and because it's consistently done the way it is, it gives an accurate national apples-to-apples comparison.

To learn more about the different rate averages Bankrate publishes, see "Understanding Bankrate's Rate Averages."

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28 Comments
Claudette
April 23, 2017 at 3:22 am

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Arnulfo Vittorio
August 28, 2016 at 3:53 pm

Looking for current mortgage rates in Atlanta, GA? Here’s how to use our mortgage rate tool to find competitive interest rates.

johnjeremy
July 22, 2016 at 5:33 am

Do you need a loan if yes contact

Eduardo
April 29, 2016 at 12:10 pm

Is there a way to track the Atlanta area interest rate for the last 90 days? Trying to decide if I should lock in a rate.
Do you also have a source for 20 year fixed?

Derek Miller
April 05, 2016 at 10:13 am

I have been renting to long need to buy this home thank you

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December 19, 2014 at 5:04 am

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Shawanna
July 08, 2013 at 2:03 am

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