While mortgage rates rose this week in Washington, D.C., an old Dupont Circle townhome has been transformed into six modern condominium units, The Washington Post reported.
The traditional townhouse was built in 1921 and had been a single-family dwelling owned by the same family for 50 years, according to the Post. Renamed Newport 21 Condominiums by developers The Rubin Group, the original façade and interior brick walls were restored while new, contemporary units were constructed.
The benchmark 30-year fixed-rate mortgage in Washington, D.C., grew to 4.51 percent from 4.46 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 4.48 percent.
Ranging in cost from $409,900 to $899,900, the condos boast such amenities as hardwood plank flooring, stacked Energy Star washer and dryer, high ceilings and recessed lighting. The location is within walking distance to Georgetown, Foggy Bottom and Dupont Circle, including numerous restaurants and shops.
The benchmark 30-year jumbo mortgage, for loans of $625,500 and more, increased to 4.44 percent from 4.41 percent. The benchmark 15-year fixed-rate mortgage stepped up to 3.57 percent from 3.54 percent. The benchmark 5/1 adjustable-rate mortgage climbed to 3.47 percent from 3.43 percent.
Weekly mortgage survey
|Results from Bankrate's April 23 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:||4.51%||3.57%||3.47%||4.44%|
|Change from last week:||+0.05||+0.03||+0.04||+0.03|
|Change from last week:||+$4.91||+$2.44||+$3.68||+$11.12|