Mortgage rates mostly rose in Atlanta this week. Meanwhile, the city boasts the highest employment growth among large metro areas in the nation, the Atlanta Business Chronicle reports.
According to CBRE Group Inc., the national employment growth rate from February 2014 to February 2015 was 2.3 percent. Atlanta, however, saw an increase of 4.6 percent, the highest in the country. The Georgia Department of Labor reported the unemployment rate for March was unchanged from February, at 6.3 percent, matching its lowest level since July 2008.
Other cities with high employment growth rates included Dallas/Fort Worth with a 4.1 percent increase, Miami at 3.7, Houston at 3.4 and Los Angeles with 2.7, according to the report.
The benchmark 30-year fixed-rate mortgage in Atlanta grew to 3.87 percent from 3.83 percent, according to the Bankrate.com national survey of large lenders. The mortgages in this week's survey had an average total of 0.41 discount and origination points. Nationally, the 30-year fixed-rate mortgage was 3.79 percent.
The benchmark 30-year jumbo mortgage, for loans of $417,000 and more, remained at 3.88 percent. The benchmark 15-year fixed-rate mortgage increased to 3.07 percent from 3.04 percent. The benchmark 5/1 adjustable-rate mortgage rose to 3.11 percent from 3.08 percent.
Weekly mortgage survey
|Results from Bankrate's April 22 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:||3.87%||3.07%||3.11%||3.88%|
|Change from last week:||+0.04||+0.03||+0.03||N/C|
|Change from last week:||+$3.78||+$2.39||+$2.69||N/C|