Mortgage rates decreased in New York City this week. Meanwhile, the city is a top site for foreign investors, Mortgage Professional America reports.
According to the annual survey by the Association of Foreign Investors in Real Estate --or AFIRE -- New York City is the leading residential and commercial property choice for foreign investors. The Big Apple outranked London and Berlin as a prime destination for investors. Los Angeles and San Francisco also ranked among AFIRE's top 5 cities worldwide. Approximately 64% of AFIRE’s 200 members said they will increase their U.S. real estate investments this year, The Real Deal notes.
This week's rates
The benchmark 30-year fixed-rate mortgage in the New York metro area fell to 3.79% from 3.9%, according to the Bankrate.com national survey of large lenders. The mortgages in this week's survey had an average total of 0.17 discount and origination points. Nationally, the 30-year fixed-rate mortgage was 3.88%.
The benchmark 30-year jumbo mortgage, for loans of $625,500 and up, sunk to 3.59% from 3.72%. The benchmark 15-year fixed-rate mortgage dipped to 3.11% from 3.15%. The benchmark 5/1 adjustable-rate mortgage dropped to 3.05% from 3.14%.
Weekly mortgage survey
|Results from Bankrate's Feb. 3 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:||3.79%||3.11%||3.05%||3.59%|
|Change from last week:||-0.11||-0.04||-0.09||-0.13|
|Change from last week:||-$10.29||-$3.19||-$8.01||-$45.47|