Mortgage rates varied in Atlanta this week. Meanwhile, the city was awarded a $30 million housing and economic development grant, local news network Patch reports.
The Choice grant from the U.S. Department of Housing and Urban Development was awarded to help revitalize communities in west Atlanta, including Vine City, Ashview Heights and the Atlanta University Center neighborhood, the Atlanta Business Chronicle notes. This is the 2nd consecutive time Atlanta was a finalist for the grant -- when the city didn't win last year, it improved its application for this year -- the Atlanta Housing Authority said.
This week's rates
The benchmark 30-year fixed-rate mortgage in Atlanta remained at 4.17%, according to the Bankrate.com national survey of large lenders. The mortgages in this week's survey had an average total of 0.5 discount and origination points. Nationally, the 30-year fixed-rate mortgage was 4.01%.
The benchmark 30-year jumbo mortgage, for loans of $417,000 and more, sunk to 3.69% from 3.94%. The benchmark 15-year fixed-rate mortgage rose to 3.33% from 3.31%. The benchmark 5/1 adjustable-rate mortgage inched up to 3.64% from 3.62%.
Weekly mortgage survey
|Results from Bankrate's Sept. 30 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:||4.17%||3.33%||3.64%||3.69%|
|Change from last week:||N/C||+0.02||+0.02||-0.25|
|Change from last week:||N/C||+$1.61||+$1.86||-$58.44|