Mortgage rates grew this week in Houston. Meanwhile, a new $76 million downtown building is planned to promote Houston, Culture Map Houston reported.
The Greater Houston Partnership Building will be home to the convention and visitors center as well as Houston First Corp. and Center for Houston's Future. The 10-story building will include a parking garage and retail space at street level. The GHP, a group that promotes the Houston area, will occupy the top two floors of the building.
The benchmark 30-year fixed-rate mortgage in Houston increased to 4.33 percent from 4.25 percent, according to the Bankrate.com national survey of large lenders. The mortgages in this week's survey had an average of 0.73 discount and origination points. Nationally, the 30-year fixed-rate mortgage was 4.27 percent.
The building will include a sky bridge connecting the parking garage to the nearby convention center. The Houston Chronicle noted that the building's iconic feature will be a 2,000-square foot terrace with a panoramic view of Discovery Green park, several hotels, landscaped pedestrian walkways and a dramatic view of the city skyline.
The benchmark 30-year jumbo mortgage, for loans of $417,000 and more, spiked to 4.44 percent from 4.22 percent. The benchmark 15-year fixed-rate mortgage rose to 3.48 percent from 3.43 percent. The benchmark 5/1 adjustable-rate mortgage surged to 3.48 percent from 3.38 percent.
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Weekly mortgage survey
|Results from Bankrate's Sept. 10 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 Houston.|
|30-year fixed||15-year fixed||5-year ARM||30-year jumbo|
|This week's rate:||4.33%||3.48%||3.48%||4.44%|
|Change from last week:||+0.08||+0.05||+0.10||+0.22|
|Change from last week:||+$7.78||+$4.05||+$9.23||+$54.67|