Mortgage rates in Philadelphia dipped this week. Meanwhile, a report ranked Philly as a top city in the for-sale-by-owner market.
This week's rates
The benchmark 30-year fixed-rate mortgage in Philadelphia fell to 3.94 percent from 4.11 percent, according to the Bankrate.com national survey of large lenders. The mortgages in this week's survey had an average total of 0.14 discount and origination points. Nationally, the 30-year fixed-rate mortgage was 3.8 percent.
The booming Philly for-sale-by-owner market
According to a report from Owners.com, a flat-fee MLS network, Philadelphia is the fifth best city for homeowners interested in selling their homes without assistance.
The site based the rankings on the total unique for-sale-by-owner listings in 15 major cities.
The average listing price in Philly of a for-sale-by-owner home is $272,961, according to the report.
The benchmark 15-year fixed-rate mortgage fell to 3.15 percent from 3.33 percent. The benchmark 5/1 adjustable-rate mortgage fell to 3.04 percent from 3.21 percent, while the 30-year fixed-rate jumbo, for loans of $417,000 and above, fell to 3.82 percent from 4.02 percent.
Weekly mortgage survey
|Results from Bankrate's March 25 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:||3.94%||3.15%||3.04%||3.82%|
|Change from last week:||-0.17||-0.18||-0.17||-0.2|
|Change from last week:||-$16.02||-$14.32||-$15.08||-$47.23|