Mortgage rates rose in Atlanta this week. Meanwhile, an Atlanta neighborhood ranked on a top 10 list for "Boom Towns" in the nation, the Atlanta Business Chronicle reports.
Real estate website Realtor.com released a list of neighborhoods that are experiencing record housing market growth to make its "Top 10 Boom Towns" list. The site looked at the top 100 counties in the country and singled out towns that had the highest number of new home construction, job creation and household growth, to comprise the list. Every market on the list experienced between 1 and 5 times the average job growth; new home starts are 1 and 6 times the average growth; and household growth was 1 and 7 times the average growth.
Atlanta's 30363 ZIP code -- including Home Park and Atlantic Station neighborhoods -- placed No. 10 on its list, the Chronicle notes.
This week's rates
The benchmark 30-year fixed-rate mortgage in Atlanta rose to 4.08% from 3.99%, according to Bankrate.com's weekly national survey of large lenders. The mortgages in this week's survey had an average total of 0.49 discount and origination points. Nationally, the 30-year fixed-rate mortgage was 3.83%.
The benchmark 30-year jumbo mortgage, for loans of $417,000 and more, surged to 3.88% from 3.69%. The benchmark 15-year fixed-rate mortgage grew to 3.17% from 3.10%. The benchmark 5/1 adjustable-rate mortgage jumped to 3.50% from 3.39%.
Weekly mortgage survey
|Results from Bankrate's April 27 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:||4.08%||3.17%||3.50%||3.88%|
|Change from last week:||+0.09||+0.07||+0.11||+0.19|
|Change from last week:||+$8.63||+$5.60||+$10.17||+$45.61|