Mortgage rates varied this week in Washington, D.C. Meanwhile, housing prices in the District are rising at a slower rate than other big cities, the Washington Business Journal reported.
CoreLogic Inc., a real estate firm, found that nationally the median price of a home sold in October was up 6.1 percent from a year ago. But in the Greater Washington area this gain was only 2.5 percent.
The benchmark 30-year fixed-rate mortgage in Washington, D.C., rose to 4.16 percent from 4.03 percent, according to the Bankrate.com national survey of large lenders. The mortgages in this week's survey had an average total of 0.03 discount and origination points. Nationally, the 30-year fixed-rate mortgage was 4.07 percent.
CoreLogic further stated that on a state-by-state basis, Virginia and Maryland were near the bottom of the list in October with annual price gains of 1.7 percent and 0.8 percent, respectively. Houston and Dallas, Texas, saw the highest gains at 11.3 percent and 9.1 percent.
The benchmark 30-year jumbo mortgage, for loans of $625,500 and more, dropped to 4.13 percent from 4.19 percent. The benchmark 15-year fixed-rate mortgage fell to 3.25 percent from 3.3 percent. The benchmark 5/1 adjustable-rate mortgage remained at 3.51 percent.
Weekly mortgage survey
|Results from Bankrate's Dec. 3 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 D.C. Metro.|
|30-year fixed||15-year fixed||5-year ARM||30-year jumbo|
|This week's rate:||4.16%||3.25%||3.51%||4.13%|
|Change from last week:||+0.13||-0.19||N/C||-0.06|
|Change from last week:||+$12.54||-$15.18||N/C||-$21.77|