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Mortgage rates in Miami, Florida

By Clare Mallen · Bankrate.com
Thursday, September 3, 2015
Posted: 7 am ET

Mortgage rates barely rose this week in Miami. Meanwhile, former Miami Heat star LeBron James sold his Coconut Grove mansion, the South Florida Business Journal reports.

The 16,678-square-foot mansion sold for $13.4 million to the owners of Mayfair in the Grove. This is the highest price for a home sold in northern Coconut Grove, at $803 per square foot. The home was listed in October 2014 for $17 million, and then lowered to $15 million in March. The sale at $13.4 million was a 49% premium over the $9 million he paid for the home in 2010.

The Journal says the home was built in 2010 and has 6 bedrooms, 8 1/2 bathrooms and docks for a pair of 60-foot yachts. Other amenities include a wine cellar, a chef's kitchen, custom theater, guest home, generator and rooftop sundeck. The outside boasts an infinity-edge pool and a summer kitchen.

This week's rates

The benchmark 30-year fixed-rate mortgage in Miami remained at 4.08%, according to the Bankrate.com national survey of large lenders. The mortgages in this week's survey had an average total of 0.07 discount and origination points. Nationally, the 30-year fixed-rate mortgage was 4.05%.

More rates

The benchmark 30-year jumbo mortgage, for loans of $417,000 and up, grew to 3.96% from 3.92%. The benchmark 15-year fixed-rate mortgage remained at 3.21%. The benchmark 5/1 adjustable-rate mortgage rose to 3.21% from 3.13%.

Weekly mortgage survey

Results from Bankrate's Sept. 2 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 Miami.
30-year fixed 15-year fixed 5-year ARM 30-year jumbo
This week's rate: 4.08% 3.21% 3.21% 3.96%
Change from last week: N/C N/C +0.08 +0.04
Monthly payment: $795.36 $1,156.20 $714.47 $1,981.22
Change from last week: N/C N/C +$7.24 +$9.60
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August 25, 2015 at 12:14 pm

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