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Mortgage rates in Los Angeles, California

By Mitch Strohm · Bankrate.com
Thursday, October 1, 2015
Posted: 6 am ET

Mortgage rates in Los Angeles were mixed this week. And a new report says that Oct. 1 is the best day to purchase a home in Los Angeles.

This week's rates

The benchmark 30-year fixed-rate mortgage in Los Angeles remained at 4%, according to the Bankrate.com national survey of large lenders. The mortgages in this week's survey had an average total of 0.28 discount and origination points. Nationally, the 30-year fixed-rate mortgage was 4.01%.

The best day to purchase a home in LA

Oct. 1 is the best day to purchase a home in the Los Angeles market, according to a new report from RealtyTrac.

That's when prospective homebuyers will get the biggest discount on a home -- a 25% discount, according to the report.

The average sale price in Los Angeles over the past 15 years on Oct. 1 has been $433,295, notes RealtyTrac.

More rates

The benchmark 30-year jumbo mortgages, for loans of $625,500 and up, fell to 3.71% from 3.75%. The benchmark 15-year fixed-rate mortgage remained at 3.28%. The benchmark 5/1 adjustable-rate mortgage fell to 3.34% from 3.38%.

Weekly mortgage survey

Results from Bankrate's Sept. 30 survey of mortgage lenders. Monthly payments are for a $165,000 loan. The jumbo rate is for the minimum jumbo loan amount of $625,500 in Los Angeles.
30-year fixed 15-year fixed 5-year ARM 30-year jumbo
This week's rate: 4% 3.28% 3.34% 3.71%
Change from last week: N/C N/C -0.04 -0.04
Monthly payment: $787.74 $1,161.81 $726.27 $2,882.61
Change from last week: N/C N/C -$3.64 -$14.14
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