Mortgage rates in Philadelphia moved up this week. And, more than 700 vacant properties are scheduled to be auctioned off around the city.
This week's rates
The benchmark 30-year fixed-rate mortgage in Philadelphia rose to 3.92 percent from 3.83 percent, according to the Bankrate.com national survey of large lenders. The mortgages in this week's survey had an average total of 0.29 discount and origination points. Nationally, the 30-year fixed-rate mortgage was 3.86 percent.
The Philly Sheriff's Auction
On May 5, 736 properties throughout Philadelphia will be auctioned at the Philadelphia Sheriff's Auction.
These properties are foreclosures where you might be able to find a bargain, notes Curbed.
Those interested can find the sheriff's sale app on the Philadelphia Sheriff's Office website. The app will show the expected opening bids, assessed values and other details about the homes, notes Curbed.
The benchmark 15-year fixed-rate mortgage rose to 3.1 percent from 3.04 percent. The benchmark 5/1 adjustable-rate mortgage rose to 3.02 percent from 2.98 percent, while the 30-year fixed-rate jumbo, for loans of $417,000 and above, rose to 3.89 percent from 3.86 percent.
Weekly mortgage survey
|Results from Bankrate's April 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:||3.92%||3.1%||3.02%||3.89%|
|Change from last week:||+0.09||+0.06||+0.04||+0.03|
|Change from last week:||+$8.54||+$4.79||+$3.57||+$7.17|