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.
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|
|Change from last week:||N/C||N/C||-$3.64||-$14.14|