Mortgage rates in Los Angeles fell this week. Meanwhile, home price appreciation in Los Angeles is above average.
This week's rates
The benchmark 30-year fixed-rate mortgage in Los Angeles fell to 4.08% from 4.09%, according to the Bankrate.com national survey of large lenders. The mortgages in this week's survey had an average total of 0.08 discount and origination points. Nationally, the 30-year fixed-rate mortgage was 3.88%.
Los Angeles home price appreciation
Home prices in Los Angeles rose by 6.2% in November from a year prior, according to the latest S&P/Case-Shiller Home Price Index.
That's nearly a full percentage point above the national average rise of 5.3%.
Month-over-month, prices rose by 0.3%, putting Los Angeles on par with cities like Phoenix, Portland, San Diego and San Francisco, according to the index.
The benchmark 30-year jumbo mortgages, for loans of $625,500 and up, fell to 3.92% from 4%. The benchmark 15-year fixed-rate mortgage fell to 3.2% from 3.25%. The benchmark 5/1 adjustable-rate mortgage fell to 3.5% from 3.55%.
Weekly mortgage survey
|Results from Bankrate's Feb. 3 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:||4.08%||3.2%||3.5%||3.92%|
|Change from last week:||-0.01||-0.05||-0.05||-0.08|
|Change from last week:||-$0.96||-$4||-$4.60||-$28.63|