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Mortgage rates in Philadelphia, Pennsylvania

By Mitch Strohm · Bankrate.com
Wednesday, November 25, 2015
Posted: 6 am ET

Mortgage rates in Philadelphia mostly fell this week. Meanwhile, many Philly residents are dissatisfied with the city.

This week's rates

The benchmark 30-year fixed-rate mortgage in Philadelphia fell to 4.16% from 4.19%, according to the Bankrate.com national survey of large lenders. The mortgages in this week's survey had an average total of 0.25 discount and origination points. Nationally, the 30-year fixed-rate mortgage was 4.07%.

Philadelphians give their city a bad rating

Nearly a third of Philly residents (30%) are "dissatisfied citizens," according to a new survey by Pew Charitable Trusts. These residents are "unhappy with their neighborhoods, disenchanted with city government, and not optimistic about Philadelphia's prospects."

Many of the people in the group were born and raised in Philly but would move if they could, according to the report.

On the other side of the coin, 25% of all Philly residents are "die-hard loyalists." They see a bright future for the city and want to remain a part of it.

More rates

The benchmark 15-year fixed-rate mortgage fell to 3.29% from 3.32%. The benchmark 5/1 adjustable-rate mortgage remained at 3.37%, while the 30-year fixed-rate jumbo, for loans of $417,000 and above, fell to 4% from 4.05%.

Weekly mortgage survey

Results from Bankrate's Nov. 24 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: 4.16% 3.29% 3.37% 4%
Change from last week: -0.03 -0.03 N/C -0.05
Monthly payment: $803.03 $1,162.61 $729 $1,990.82
Change from last week: -$2.88 -$2.41 N/C -$12
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