Rates Blog

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

Mortgage rates in San Francisco, California

By Clare Mallen · Bankrate.com
Thursday, April 17, 2014
Posted: 12 pm ET


Mortgage rates fell this week in San Francisco. Meanwhile, the San Francisco Business Times reported that office rents in the city, especially for Class A offices, continue to skyrocket.

Class A or "trophy" buildings that make up the city's skyline are experiencing high competition as tenants fight over the best spaces, according to a report by Jones Lang LaSalle. This intense interest in these trophy buildings could push rents to $100 per square foot, the report noted.

The benchmark 30-year fixed-rate mortgage in San Francisco dipped to 4.43 percent from 4.45 percent, according to the Bankrate.com national survey of large lenders. The mortgages in this week's survey had an average total of 0.33 discount and origination points. Nationally, the 30-year fixed-rate mortgage was 4.43 percent.

This skyline market in San Francisco is made up of 50 buildings including the Transamerica Tower, the Bank of America tower and the Embarcadero Center. According to the report, the San Francisco skyline had the highest rental growth in the country with a 9.6 percent jump from last year and an astounding 80.7 increase in rents over the past three years.

The benchmark 30-year jumbo mortgage, for loans of $625,500 and up, fell to 4.48 percent from 4.53 percent. The benchmark 15-year fixed-rate mortgage reduced to 3.46 percent from 3.49 percent. The benchmark 5/1 adjustable-rate mortgage remained at 3.29 percent.

Shop mortgage rates in your area.

Weekly mortgage survey

Results from Bankrate's April 16 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: 4.43% 3.46% 3.29% 4.48%
Change from last week: -0.02 -0.03 N/C -0.05
Monthly payment: $829.18 $1,176.32 $721.72 $3,161.89
Change from last week: -$1.95 -$2.43 N/C -$18.53
«
»
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.
1 Comment
Add a comment

(Comments may take 5-10 minutes to appear)