Mortgage rates in Philadelphia mostly dropped this week. Meanwhile, Amazon is getting into the home-repair business in Philly.
This week's rates
The benchmark 30-year fixed-rate mortgage in Philadelphia fell to 4.19% from 4.21%, according to the Bankrate.com national survey of large lenders. The mortgages in this week's survey had an average total of 0.19 discount and origination points. Nationally, the 30-year fixed-rate mortgage was 4.09%.
Amazon enters the Philly home-service business
Amazon recently announced that it would be expanding Amazon Home Services to 15 metros throughout the nation, and Philly is one of them, notes Philly.com.
The Internet shopping giant grants access to 900 home services through local, regional and national companies, offering everything from minor repairs to major renovations.
Philly residents can now jump on the site and compare quotes for various services, according to Philly.com.
The benchmark 15-year fixed-rate mortgage fell to 3.32% from 3.33%. The benchmark 5/1 adjustable-rate mortgage rose to 3.21% from 3.18%, while the 30-year fixed-rate jumbo, for loans of $417,000 and above, fell to 4.13% from 4.2%.
Weekly mortgage survey
|Results from Bankrate's July 29 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 Philadelphia.|
|30-year fixed||15-year fixed||5-year ARM||30-year jumbo|
|This week's rate:||4.19%||3.32%||3.21%||4.13%|
|Change from last week:||-0.02||-0.01||+0.03||-0.07|
|Change from last week:||-$1.92||-$0.80||+$2.71||-$16.93|