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Mortgage rates in Washington, DC

By Clare Mallen · Bankrate.com
Wednesday, November 25, 2015
Posted: 7 am ET

Mortgage rates mostly fell this week in Washington, D.C. Meanwhile, a multimillion-dollar home in Georgetown sold in just 2 days, The Washington Post reports.

The 6,700-square-foot Italianate-style home is part of historic Cooke's Row -- 4 double houses built in 1868 for Henry Cooke and his 12 children -- in Northwest Washington and was privately listed for 2 days before it was purchased. It sold for $4.4 million to an unnamed buyer.

The home was renovated in 1994 and has 6 bedrooms, 7 bathrooms, hardwood floors, 12-foot ceilings and 5 fireplaces. Other amenities include a detached garage and a sunroom with 3 walls of glass overlooking a large patio and private garden, the Post continued.

This week's rates

The benchmark 30-year fixed-rate mortgage in Washington, D.C., fell to 4.06% from 4.13%, according to Bankrate.com's weekly national survey of large lenders. The mortgages in this week's survey had an average total of 0.08 discount and origination points. Nationally, the 30-year fixed-rate mortgage was 4.07%.

More rates

The benchmark 30-year jumbo mortgage, for loans of $625,500 and more, remained at 3.92%. The benchmark 15-year fixed-rate mortgage inched down to 3.4% from 3.41%. The benchmark 5/1 adjustable-rate mortgage dropped to 3.52% from 3.62%.

Weekly mortgage survey

Results from Bankrate's Nov. 24 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: 4.06% 3.4% 3.52% 3.92%
Change from last week: -0.07 -0.01 -0.1 N/C
Monthly payment: $793.45 $1,171.47 $742.77 $2,957.46
Change from last week: -$6.67 -$0.81 -$9.19 N/C
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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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