Mortgage rates rose this week in Atlanta. Meanwhile, entertainment mogul Tyler Perry is purchasing over 300 acres of Fort McPherson to build movie studios, USA Today reported.
Perry -- an accomplished actor, producer, writer and director -- has invested $200 million in Georgia and will pay the city $30 million for the site with plans to build 16 studios. According to Atlanta In Town, the deal will add over 8,000 new jobs to Atlanta on the decommissioned Army base.
The benchmark 30-year fixed-rate mortgage in Atlanta climbed to 4.37 percent from 4.33 percent, according to the Bankrate.com national survey of large lenders. The mortgages in this week's survey had an average total of 0.32 discount and origination points. Nationally, the 30-year fixed-rate mortgage was 4.33 percent.
Tyler Perry Studios, created in 2006, has been in southwest Atlanta since 2008. It currently consists of five sound stages, a pond, a back lot, a private screening room, a post-production facility and amenities for hosting events, according to Atlanta In Town.
The benchmark 30-year jumbo mortgage, for loans of $417,000 and more, increased to 4.44 percent from 4.38 percent. The benchmark 15-year fixed-rate mortgage remained at 3.5 percent. The benchmark 5/1 adjustable-rate mortgage grew to 3.54 percent from 3.5 percent.
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Weekly mortgage survey
|Results from Bankrate's Sept. 17 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:||4.37%||3.50%||3.54%||4.44%|
|Change from last week:||+0.04||N/C||+0.04||+0.06|
|Change from last week:||+$3.90||N/C||+$3.70||+$14.84|