Mortgage rates decreased in Atlanta this week. Meanwhile, home sales were up in June, The Atlanta Journal-Constitution reports.
According to the Atlanta Board of Realtors' most recent report, home sales in metro Atlanta were up 9.5 percent in June from the previous month and 17.1 percent from June of last year.
The report said the median sales price dipped 0.8 percent to $238,000, while the supply of homes was up 3 percent during the month. Last month, the median price was 3.9 percent higher than June 2014. Overall, prices in metro Atlanta continue to rise but at a slower pace, the AJC notes.
This week's rates
The benchmark 30-year fixed-rate mortgage in Atlanta dropped to 4.18 percent from 4.26 percent, according to the Bankrate.com national survey of large lenders. The mortgages in this week's survey had an average total of 0.21 discount and origination points. Nationally, the 30-year fixed-rate mortgage was 4.12 percent.
The benchmark 30-year jumbo mortgage, for loans of $417,000 and more, sunk to 4.06 percent from 4.19 percent. The benchmark 15-year fixed-rate mortgage fell to 3.3 percent from 3.38 percent. The benchmark 5/1 adjustable-rate mortgage slumped to 3.33 percent from 3.41 percent.
Weekly mortgage survey
|Results from Bankrate's July 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:||4.18%||3.3%||3.33%||4.06%|
|Change from last week:||-0.08||-0.08||-0.08||-0.13|
|Change from last week:||-$7.68||-$6.42||-$7.26||-$31.24|