Mortgage rates mostly fell in Atlanta this week. Meanwhile, home prices are up in the city, the Atlanta Business Chronicle reports.
According to the latest S&P/Case-Shiller Home Price Index, home prices in metro Atlanta were up 0.8% from June to July and up 5.8% from July 2014 to July 2015. This pace is behind San Francisco, Denver and Dallas, which had the highest year-over-year gains with increases of 10.4%, 10.3% and 8.7%, respectively.
This week's rates
The benchmark 30-year fixed-rate mortgage in Atlanta dropped to 4.11% from 4.17%, according to Bankrate.com's weekly national survey of large lenders. The mortgages in this week's survey had an average total of 0.58 discount and origination points. Nationally, the 30-year fixed-rate mortgage was 3.95%.
The benchmark 30-year jumbo mortgage, for loans of $417,000 and more, rose to 3.81% from 3.69%. The benchmark 15-year fixed-rate mortgage fell to 3.26% from 3.33%. The benchmark 5/1 adjustable-rate mortgage dropped to 3.56% from 3.64%.
Weekly mortgage survey
|Results from Bankrate's Oct. 7 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:||4.11%||3.26%||3.56%||3.81%|
|Change from last week:||-0.06||-0.07||-0.08||+0.12|
|Change from last week:||-$5.74||-$5.61||-$7.38||+$28.61|