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.
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|
|Change from last week:||N/C||-$0.79||-$5.30||-$2.36|