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Mortgage rates in Philadelphia, Pennsylvania

By Mitch Strohm · Bankrate.com
Thursday, April 28, 2016
Posted: 6 am ET

Mortgage rates in Philadelphia rose this week. And Philly is one of the most expensive areas for seniors.

This week's rates

The benchmark 30-year fixed-rate mortgage in Philadelphia rose to 3.95% from 3.88%, according to the Bankrate.com national survey of large lenders. The mortgages in this week's survey had an average total of 0.15 discount and origination points. Nationally, the 30-year fixed-rate mortgage was 3.83%.

Philly is pricey for senior living

When it comes to senior-adult housing, Philly is one of the most expensive area in the nation, according to the National Senior Living Cost Index created by A Place for Mom, a senior living referral service.

Philly ranked as the 5th most expensive in independent living (an average of $2,985 per month), assisted living (average $4,663 per month) and memory care (average $5,979 per month).

More rates

The benchmark 15-year fixed-rate mortgage rose to 3.03% from 2.96%. The benchmark 5/1 adjustable-rate mortgage rose to 3.14% from 3.08%, while the 30-year fixed-rate jumbo, for loans of $417,000 and above, rose to 3.85% from 3.71%.

Weekly mortgage survey

Results from Bankrate's April 27 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: 3.95% 3.03% 3.14% 3.85%
Change from last week: +0.07 +0.07 +0.06 +0.14
Monthly payment: $782.99 $1,141.84 $708.17 $1,954.93
Change from last week: +$6.65 +$5.57 +$5.40 +$33.49
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