Rates Blog

Finance Blogs » Rates » Mortgage rates in San Francisco, California

Mortgage rates in San Francisco, California

By Clare Mallen · Bankrate.com
Thursday, March 26, 2015
Posted: 6 am ET

Mortgage rates dropped in San Francisco this week. Meanwhile, the residential real estate market in the city cooled off in February, the San Francisco Business Times reported.

According to CoreLogic DataQuick data, the region experienced the lowest total number of February sales in seven years. In February, 1.1 percent fewer new and existing homes and condos sold from January, down 10.9 percent year over year. February 2014 had 4,911 sales with February 2015 having only 4,376 -- the lowest total for a February since 2008, when 3,989 homes sold.

The benchmark 30-year fixed-rate mortgage in San Francisco declined to 3.73 percent from 3.81 percent, according to the Bankrate.com national survey of large lenders. The mortgages in this week's survey had an average total of 0.29 discount and origination points. Nationally, the 30-year fixed-rate mortgage was 3.8 percent.

The benchmark 30-year jumbo mortgage, for loans of $625,500 and up, fell to 3.88 percent from 3.94 percent. The benchmark 15-year fixed-rate mortgage decreased to 2.97 percent from 3.03 percent. The benchmark 5/1 adjustable-rate mortgage inched down to 3.2 percent from 3.22 percent.

Weekly mortgage survey

Results from Bankrate's March 25 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 San Francisco.
30-year fixed 15-year fixed 5-year ARM 30-year jumbo
This week's rate: 3.73% 2.97% 3.2% 3.88%
Change from last week: -0.08 -0.06 -0.02 -0.06
Monthly payment: $762.27 $1,137.08 $713.57 $2,943.12
Change from last week: -$7.46 -$4.75 -$1.80 -$21.43
Bankrate wants to hear from you and encourages comments. We ask that you stay on topic, respect other people's opinions, and avoid profanity, offensive statements, and illegal content. Please keep in mind that we reserve the right to (but are not obligated to) edit or delete your comments. Please avoid posting private or confidential information, and also keep in mind that anything you post may be disclosed, published, transmitted or reused.

By submitting a post, you agree to be bound by Bankrate's terms of use. Please refer to Bankrate's privacy policy for more information regarding Bankrate's privacy practices.
Add a comment

(Comments may take 5-10 minutes to appear)