Mortgage rates mostly fell in San Francisco this week.
A study conducted by RadPad, a site which allows users to find and pay for apartment rentals online, found that the priciest areas to live in the city are near Square and Airbnb where workers pay, on average, 54% of their salary for a 1-bedroom apartment. Workers at Stripe paid 52% of their salary on rent, Jawbone 49% and Uber 48%, according to the report.
This week's rates
The benchmark 30-year fixed-rate mortgage in San Francisco sunk to 3.86% from 4%, according to the Bankrate.com national survey of large lenders. The mortgages in this week's survey had an average total of 0.2 discount and origination points. Nationally, the 30-year fixed-rate mortgage was 3.95%.
The benchmark 30-year jumbo mortgage, for loans of $625,500 and up, rose to 3.81% from 3.69%. The benchmark 15-year fixed-rate mortgage dropped to 3.11% from 3.19%. The benchmark 5/1 adjustable-rate mortgage inched down to 3.28% from 3.3%.
Weekly mortgage survey
|Results from Bankrate's Oct. 7 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:||3.86%||3.11%||3.28%||3.81%|
|Change from last week:||-0.14||-0.08||-0.02||+0.12|
|Change from last week:||-$13.14||-$6.37||-$1.81||+$42.92|