Mortgage rates in Dallas mostly rose this week. Meanwhile, the owners of the landmark Crescent complex announced the building is about to get a sizable renovation.
This week's rates
The benchmark 30-year fixed-rate mortgage in Dallas rose to 4.16 percent from 4.11 percent, according to the Bankrate.com national survey of large lenders. The mortgages in this week's survey had an average total of 0.47 discount and origination points. Nationally, the 30-year fixed-rate mortgage was 4.13 percent.
The Crescent gets a makeover
The Crescent complex -- an 11-acre office, hotel and retail development -- will receive a $65 million makeover starting early next year, according to The Dallas Morning News.
The building opened in 1986 and was one of the most expensive real estate projects of its time.
But the owners have decided to update the building with improved landscaping, new lighting and a nicer, 1-acre park. Plus, around $35 million will go to update the hotel. And there will also be a new shopping and restaurant space, notes the Morning News.
The benchmark 15-year fixed-rate mortgage jumped to 3.35 percent from 3.32 percent. The benchmark 5/1 adjustable-rate mortgage rose to 3.53 percent from 3.15 percent, while the 30-year fixed-rate jumbo, for loans of $417,000 and above, rose to 4.2 percent from 3.98 percent.
Shop mortgage rates in your area.
Weekly mortgage survey
|Results from Bankrate's Nov. 12 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 Dallas.|
|30-year fixed||15-year fixed||5-year ARM||30-year jumbo|
|This week's rate:||4.16%||3.35%||3.53%||4.20%|
|Change from last week:||+0.05||+0.03||+0.38||+0.22|
|Change from last week:||+$4.81||+$2.42||+$35.51||+$53.90|