Mortgage rates fell this week in Atlanta. Meanwhile, the city's first Aloft hotel opened, replacing the Days Inn Atlanta Downtown, according to the Atlanta Business Chronicle.
The Aloft Atlanta Downtown boasts 254 rooms in the newly renovated site, conveniently located blocks away from top tourist attractions such as Centennial Olympic Park, the Georgia Aquarium and the Georgia Dome.
The benchmark 30-year fixed-rate mortgage in Atlanta dropped to 4.38 percent from 4.46 percent, according to the Bankrate.com national survey of large lenders. The mortgages in this week's survey had an average total of 0.28 discount and origination points. Nationally, the 30-year fixed-rate mortgage was 4.43 percent.
The site was purchased in 2012, and more than $25 million was invested in rebranding and renovating the property. As part of the Starwood Preferred Brand, this Aloft hotel aspires to provide guests with a similar experience to its W Hotels at a more affordable price.
The benchmark 30-year jumbo mortgage, for loans of $417,000 and up, declined to 4.38 percent from 4.44 percent. The benchmark 15-year fixed-rate mortgage reduced to 3.43 percent from 3.5 percent. The benchmark 5/1 adjustable-rate mortgage dipped to 3.32 percent from 3.36 percent.
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Weekly mortgage survey
|Results from Bankrate's April 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:||4.38%||3.43%||3.32%||4.38%|
|Change from last week:||-0.08||-0.07||-0.04||-0.06|
|Change from last week:||-$7.77||-$5.65||-$3.63||-$14.74|