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Mortgage rates in Washington, DC

By Clare Mallen · Bankrate.com
Thursday, October 1, 2015
Posted: 6 am ET

Mortgage rates mostly increased this week in Washington, D.C. Meanwhile, the city is getting its first elevated park, Curbed DC reports.

The 11th Street Bridge -- the Anacostia River freeway bridge -- is being reconstructed into an elevated park and civic space in a $45 million project expected to be completed in 2019. The new park will have play areas, kayak and canoe launches, spaces for performances and public art, as well as plazas, Curbed reports.

This week's rates

The benchmark 30-year fixed-rate mortgage in Washington, D.C., increased to 4% from 3.94%, according to the Bankrate.com national survey of large lenders. The mortgages in this week's survey had an average total of 0.05 discount and origination points. Nationally, the 30-year fixed-rate mortgage was 4.01%.

More rates

The benchmark 30-year jumbo mortgage, for loans of $625,500 and more, dipped to 3.79% from 3.83%. The benchmark 15-year fixed-rate mortgage rose to 3.23% from 3.15%. The benchmark 5/1 adjustable-rate mortgage grew to 3.42% from 3.34%.

Weekly mortgage survey

Results from Bankrate's Sept. 30 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 DC Metro.
30-year fixed 15-year fixed 5-year ARM 30-year jumbo
This week's rate: 4% 3.23% 3.42% 3.79%
Change from last week: +0.06 +0.08 +0.08 -0.04
Monthly payment: $787.74 $1,157.80 $733.58 $2,911
Change from last week: +$5.72 +$6.42 +$7.35 -$14.22
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Bryant Beier
September 04, 2015 at 11:39 am

Lenders offer different rates for mortgages depending on how the property will be used. For example, a loan for a rental property is more expensive than a loan for a primary residence because lenders believe investors are more likely to stop paying their mo 15e7 rtgage and walk away from a rental property than they are from their own home.

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