Mortgage rates increased in New York City this week. Meanwhile, Sotheby's is selling its Upper East Side headquarters, Crain's Business reports.
The 10-story building sits on an entire city block and was built specifically for the auction house in 1955. It is the official headquarters for the global business and hosts nearly 100 high-profile auctions each year, according to the company website.
The auction house has hired a broker and is expected to sell the 489,513-square-foot building for about $500 million, Crain's notes.
This week's rates
The benchmark 30-year fixed-rate mortgage in the New York metro area rose to 3.69% from 3.65%, according to the Bankrate.com national survey of large lenders. The mortgages in this week's survey had an average total of 0.01 discount and origination points. Nationally, the 30-year fixed-rate mortgage was 3.73%.
The benchmark 30-year jumbo mortgage, for loans of $625,500 and up, climbed to 3.52% from 3.47%. The benchmark 15-year fixed-rate mortgage inched up to 2.90% from 2.88%. The benchmark 5/1 adjustable-rate mortgage grew to 2.87% from 2.81%.
Weekly mortgage survey
|Results from Bankrate's June 22 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:||3.69%||2.90%||2.87%||3.52%|
|Change from last week:||+0.04||+0.02||+0.06||+0.05|
|Change from last week:||+$3.74||+$1.58||+$5.30||+$17.51|