Mortgage rates in Los Angeles mostly remained the same this week. Meanwhile, pop singer Katy Perry is in a fight with nuns over the sale of their former convent.
This week's rates
The benchmark 30-year fixed-rate mortgage in Los Angeles remained at 4.22%, according to the Bankrate.com national survey of large lenders. The mortgages in this week's survey had an average total of 0.12 discount and origination points. Nationally, the 30-year fixed-rate mortgage was 4.19%.
Katy Perry vs. nuns
Elderly Sisters of the Immaculate Heart of Mary are none too happy about the prospective sale of their former Los Feliz convent to singer Katy Perry, according to the Los Angeles Times.
In fact, the nuns attempted to sell the property to a local restaurateur, Dana Hollister, before Perry could purchase the property from Los Angeles Archbishop Jose Gomez.
Perry has agreed to pay $14.5 million in cash for villa-style hilltop convent. But it'll be left up to the courts to see who gets to purchase the former convent, notes the Times.
The benchmark 30-year jumbo mortgages, for loans of $625,500 and up, fell to 4.13% from 4.21%. The benchmark 15-year fixed-rate mortgage remained at 3.44%. The benchmark 5/1 adjustable-rate mortgage rose to 3.44% from 3.41%.
Weekly mortgage survey
|Results from Bankrate's July 1 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:||4.22%||3.44%||3.44%||4.13%|
|Change from last week:||0.0||0.0||+0.03||-0.08|
|Change from last week:||N/C||N/C||+$2.75||-$29.01|