While mortgage rates increased this week in the New York City area, CME Group Inc. announced it has sold the home of its New York Mercantile Exchange for $200 million, reported News.Gnom.es. The terms of the sale enable the company to lease back the trading floor and some office space for 15 years.
Brookfield Office Properties Inc. bought the 15-story, half-million-square-foot office building in lower Manhattan, CME said in a statement. Brookfield also owns the neighboring Brookfield Place, formerly the World Financial Center.
The benchmark 30-year fixed-rate mortgage in the New York metro area rose to 4.59 percent from 4.52 percent, according to the Bankrate.com national survey of large lenders. The mortgages in this week's survey had an average total of 0.3 discount and origination points. Nationally, the 30-year fixed-rate mortgage was 4.55 percent.
The sale of this building may indicate that the days of traditional open-outcry trading pits are numbered as the shift to electronic trading increases. Last year, CME sold most of its historic Chicago Board of Trade Building for $151.5 million and again, leased back the space that houses its grain-trading pits.
The benchmark 30-year jumbo mortgage, for loans of $625,500 and up, grew this week to 4.64 percent from 4.56 percent. The benchmark 15-year fixed-rate mortgage rose to 3.57 percent from 3.5 percent. The benchmark 5/1 adjustable-rate mortgage remained at 3.15 percent.
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Weekly mortgage survey
|Results from Bankrate's Dec. 4 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:||4.59%||3.57%||3.15%||4.64%|
|Change from last week:||+0.07||+0.07||N/C||+0.08|
|Change from last week:||+$6.91||+$5.70||N/C||+$30.04|