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Mortgage rates in Washington, DC

By Clare Mallen · Bankrate.com
Thursday, July 30, 2015
Posted: 7 am ET

Mortgage rates mostly fell this week in Washington, D.C. Meanwhile, D.C. placed 1st in a study of the least energy expensive areas, The Washington Post reports.

The website WalletHub compared the average monthly energy bills in each of the 50 states and Washington, D.C., to come up with its list. It used 8 metrics to evaluate use and prices for natural gas, home heating oil, motor fuel and electricity. The District's total energy cost per month is $223, making it the least expensive, while Connecticut is the most expensive, with a cost of $410 a month.

The study also said D.C. ranks 4th-best in electricity consumption per total housing units and uses the least amount of fuel per driver in the nation. The average driver in Wyoming uses 3 times as much motor fuel as a driver in the nation's capital.

This week's rates

The benchmark 30-year fixed-rate mortgage in Washington, D.C., dropped to 4.06% from 4.12%, according to the Bankrate.com national survey of large lenders. The mortgages in this week's survey had an average total of 0.02 discount and origination points. Nationally, the 30-year fixed-rate mortgage was 4.09%.

More rates

The benchmark 30-year jumbo mortgage, for loans of $625,500 and more, decreased to 4% from 4.04%. The benchmark 15-year fixed-rate mortgage dipped to 3.28% from 3.35%. The benchmark 5/1 adjustable-rate mortgage rose to 3.5% from 3.45%.

Weekly mortgage survey

Results from Bankrate's July 29 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% 3.28% 3.5% 4%
Change from last week: -0.06 -0.07 +0.05 -0.04
Monthly payment: $793.45 $1,161.81 $740.92 $2,986.23
Change from last week: -$5.72 -$5.61 +$4.61 -$14.41
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