Mortgage rates mostly fell this week in Miami. Meanwhile, Alex Rodriguez purchased a penthouse in the city, The Real Deal reports.
The New York Yankees star bought a 3,200-square-foot penthouse in the GranParaiso tower located in the Edgewater neighborhood for an undisclosed price. Similar units sell for more than $4 million. The tower is expected to be completed in 2018 and is part of a 10-acre complex. Amenities at the tower will include virtual golf, bowling, gym, spa, kids pool, a 100-foot zero-entry pool, access to the Paraiso Beach Club and restaurant. His unit is on the 53rd floor of the tower and will include 12-foot ceilings.
A-Rod sold his 20,000-square-foot Miami Beach mansion in 2013 for $30 million and has a reported net worth of $252 million, The Real Deal notes.
This week's rates
The benchmark 30-year fixed-rate mortgage in Miami fell to 4% from 4.06%, according to the Bankrate.com national survey of large lenders. The mortgages in this week's survey had an average total of 0.11 discount and origination points. Nationally, the 30-year fixed-rate mortgage was 4.01%.
The benchmark 30-year jumbo mortgage, for loans of $417,000 and up, dipped to 3.79% from 3.83%. The benchmark 15-year fixed-rate mortgage remained at 3.14%. The benchmark 5/1 adjustable-rate mortgage dropped to 3.08% from 3.17%.
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 $417,000 in Miami.|
|30-year fixed||15-year fixed||5-year ARM||30-year jumbo|
|This week's rate:||4%||3.14%||3.08%||3.79%|
|Change from last week:||-0.06||N/C||-0.09||-0.04|
|Change from last week:||-$5.70||N/C||-$8.03||-$9.48|