Mortgage rates barely rose in New York City this week. Meanwhile, the Empire State Building is getting a face-lift, The Wall Street Journal reports.
One of the world's most storied skyscrapers, the Empire State Building, which opened in 1931, is getting new windows. 480 windows in the tower's mooring mast, which became famous for being King Kong's perch, are being replaced.
According to the Journal, the goal is to refurbish and protect the 200-foot-high, rocket-shaped pinnacle from the elements. But the process hasn't been easy, as the building is occupied with office tenants and the observation deck is open until 2 a.m. A team planned the process and had to get the glass panes custom made. The work began in July and should be completed by November.
This week's rates
The benchmark 30-year fixed-rate mortgage in the New York metro area remained at 4.09%, according to the Bankrate.com national survey of large lenders. The mortgages in this week's survey had an average total of 0.09 discount and origination points. Nationally, the 30-year fixed-rate mortgage was 4.05%.
The benchmark 30-year jumbo mortgage, for loans of $625,500 and up, grew to 3.97% from 3.95%. The benchmark 15-year fixed-rate mortgage inched up to 3.23% from 3.21%. The benchmark 5/1 adjustable-rate mortgage rose to 3.1% from 3.08%.
Weekly mortgage survey
|Results from Bankrate's Sept. 2 survey of mortgage lenders. Monthly payments are for a $165,000 loan. The jumbo rate is for the minimum jumbo loan amount of $625,500 in New York Metro.|
|30-year fixed||15-year fixed||5-year ARM||30-year jumbo|
|This week's rate:||4.09%||3.23%||3.1%||3.97%|
|Change from last week:||N/C||+0.02||+0.02||+0.02|
|Change from last week:||N/C||+$1.60||+$1.79||+$7.20|