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Mortgage rates in Washington, DC

By Clare Mallen · Bankrate.com
Thursday, April 23, 2015
Posted: 10 am ET

Mortgage rates mostly decreased this week in Washington, D.C. Meanwhile, population growth in the Washington area is slowing down, The Washington Post reports.

In three Virginia counties -- Alexandria, Fairfax and Arlington -- more people moved out than in over the past year, according to the latest census numbers. In D.C. 5,000 residents left the city in 2014, compared with 10,000 in 2013.

With increasing numbers of births, the region is still growing, but the growth rate has continued to fall since 2011, the Post notes. In 2011, the area added about 62,000 new residents, while in 2014 that number was only 18,000, according to census data.

The benchmark 30-year fixed-rate mortgage in Washington, D.C., fell to 3.76 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 0.11 discount and origination points. Nationally, the 30-year fixed-rate mortgage was 3.79 percent.

The benchmark 30-year jumbo mortgage, for loans of $625,500 and more, rose to 3.79 percent from 3.75 percent. The benchmark 15-year fixed-rate mortgage dipped to 3.02 percent from 3.06 percent. The benchmark 5/1 adjustable-rate mortgage dropped to 3.37 percent from 3.41 percent.

Weekly mortgage survey

Results from Bankrate's April 22 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: 3.76% 3.02% 3.37% 3.79%
Change from last week: -0.05 -0.04 -0.04 +0.04
Monthly payment: $765.08 $1,141.05 $729.00 $2,911.00
Change from last week: -$4.68 -$3.17 -$3.65 +$14.25
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