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Mortgage rates in Philadelphia, Pennsylvania

By Mitch Strohm · Bankrate.com
Thursday, June 23, 2016
Posted: 8 am ET

Mortgage rates in Philadelphia mostly fell this week. Meanwhile, Philly was named as the top city for millennials.

This week's rates

The benchmark 30-year fixed-rate mortgage in Philadelphia remained at 3.79%, according to the Bankrate.com national survey of large lenders. The mortgages in this week's survey had an average total of 0.22 discount and origination points. Nationally, the 30-year fixed-rate mortgage was 3.73%.

The top city for millennials

According to a new report from apartment search company Adobo, Philadelphia is the best city for millennials.

It ranks highest for the 20 qualities that Adobo dubbed most important to millennials, including a thriving job market, affordable rent, affordable home prices, parks and hiking trails, as well as lots of local restaurants.

Philly beat out Boston for the top spot.

More rates

The benchmark 15-year fixed-rate mortgage fell to 2.96% from 2.97%. The benchmark 5/1 adjustable-rate mortgage fell to 2.92% from 2.98%, while the 30-year fixed-rate jumbo, for loans of $417,000 and above, fell to 3.73% from 3.74%.

Weekly mortgage survey

Results from Bankrate's June 22 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: 3.79% 2.96% 2.92% 3.73%
Change from last week: N/C -0.01 -0.06 -0.01
Monthly payment: $767.89 $1,136.29 $688.55 $1,926.46
Change from last week: N/C -$0.79 -$5.30 -$2.36
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