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Mortgage rates in Washington, DC

By Clare Mallen · Bankrate.com
Thursday, March 26, 2015
Posted: 6 am ET

Mortgage rates slumped this week in Washington, D.C. Meanwhile, the priciest home in the city was just listed for $22 million, The Wall Street Journal reported.

According to listing agent Nancy Itteilag of Long & Foster Real Estate, the 20,000-square-foot home is located in the Forest Hills neighborhood and boasts seven bedrooms, nine bathrooms and five half-baths. The neoclassical brick and limestone mansion was built in the early 1990s and has an elevator, temperature-controlled wine cellar, pool, sports court and English gardens.

The home is owned by Giant Food supermarket co-founder Samuel Lehrman, who purchased three lots in order to build the home, which sits on nearly an acre of land, according to The Wall Street Journal.

The benchmark 30-year fixed-rate mortgage in Washington, D.C., fell to 3.77 percent from 3.88 percent, according to the Bankrate.com national survey of large lenders. The mortgages in this week's survey had an average total of 0.07 discount and origination points. Nationally, the 30-year fixed-rate mortgage was 3.8 percent.

The benchmark 30-year jumbo mortgage, for loans of $625,500 and more, sunk to 3.75 percent from 3.88 percent. The benchmark 15-year fixed-rate mortgage tumbled to 3.02 percent from 3.17 percent. The benchmark 5/1 adjustable-rate mortgage dropped to 3.36 percent from 3.47 percent.

Weekly mortgage survey

Results from Bankrate's March 25 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: 3.77% 3.02% 3.36% 3.75%
Change from last week: -0.11 -0.15 -0.11 -0.13
Monthly payment: $766.01 $1,141.05 $728.09 $2,896.79
Change from last week: -$10.28 -$11.88 -$10 -$45.95
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