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Mortgage rates in Atlanta, Georgia

By Claes Bell · Bankrate.com
Thursday, October 27, 2016
Posted: 9 am ET

Several closely watched mortgage rates trended upward in the Atlanta area this week.

Benchmark 30-year rate ticks up in Atlanta

The average rate on the benchmark 30-year fixed-rate mortgage rate for the Atlanta area increased to 3.96%, according to Bankrate's national survey of large lenders. Not only did the local rate ascend 1 basis point from last week, but it exceeded the national average rate of 3.64%. A basis point is one-hundredth of 1 percentage point.

In the survey for the current week, the mortgages had an average of 0.35 discount and origination points.

"With the 30-year fixed rising, it means that homebuyers and refinancers will find it pricier to borrow," says Holden Lewis, Bankrate's senior mortgage analyst.

The increase in the mortgage rate raised 30-year fixed-rate monthly payments on a hypothetical $165,000 mortgage to $783.94, an uptick of $0.95 from last week.

No clear direction for other Atlanta mortgage types

Breaking ranks with the 30-year conventional mortgage, the average rate for 30-year jumbo mortgages didn't do much of anything this week, remaining at 3.69%. Jumbo mortgages are used for loan amounts above limits set by the Federal Housing Finance Agency; for the Atlanta area, that limit is $417,000.

The average rate for 15-year fixed-rate mortgages increased 4 basis points, up to 3.08%. Monthly payments on a hypothetical $165,000, 15-year fixed-rate mortgage moved upward with rates, climbing $3.19 to $1,145.82.

"Because the 15-year fixed is a popular mortgage for homeowners who want to refinance, the increase means that a refi is less lucrative than it would have been before the rate rise," says Lewis.

The benchmark 5/1 adjustable-rate mortgage rate slid 2 basis points this week, dipping to 3.54%. The most common variety 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.

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Weekly mortgage survey

Results from Bankrate's survey of mortgage lenders conducted 10/26/2016. Monthly payments are for a $165,000 loan. The jumbo rate is for the minimum jumbo loan amount of $417,000 in the Atlanta area.
30-year fixed 15-year fixed 5-year ARM 30-year jumbo
This week's rate: 3.96% 3.08% 3.54% 3.69%
Change from last week: +0.01 +0.04 -0.02 N/C
Monthly payment: $783.94 $1,145.82 $744.61 $1,917.02
Change from last week: +$0.95 +$3.19 -$1.85 N/C
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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.

July 22, 2016 at 5:33 am

Do you need a loan if yes contact

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

December 19, 2014 at 5:04 am

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July 08, 2013 at 2:03 am

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