Atlanta Mortage Rate Update May 30, 2008
May 30, 2008
Atlanta mortgage rates are inching upward as a result of what we are seeing in the fixed-income securities market.
| Conforming | APR |
Payment per $1000 |
Jumbo | APR |
Payment per $1000 |
|
| 30-Year Fixed | 5.875% | 6.013% | $5.92 | 7.25% | 7.35% | $6.82 |
| 15-Year Fixed | 5.5% | 5.730% | $8.17 | 7.00% | 7.16% | $8.99 |
| 5-Year Fixed ARM | 5.25% | 5.383% | $5.52 | 5.875% | 5.967% | $5.92 |
| 5-Year Interest Only | 5.5% | 5.635% | $4.58 | 5.875% | 5.967% | $4.90 |
*Rates are subject to change due to market fluctuations and borrower’s eligibility.
Jumbo ARMs are making a comeback. Call my cell phone (404-992-6547) if I can assist over the weekend.
MLS Moments
May 26, 2008
I took a few moments for a quick review of multiple listing home sales in North Atlanta this Memorial Day weekend.
| City / Zip Code |
Closed Sales |
Average Sales Price |
Average Market Time |
| North Atlanta Area | 2201 | $368,456 | 90 Days |
| Marietta (30062) | 217 | $307,271 | 88 Days |
| Marietta (30067,30068) | 158 | $432,649 | 70 Days |
| Roswell (30075) | 158 | $399,569 | 80 Days |
| Johns Creek* | 411 | $396,580 | 86 Days |
| Alpharetta (30004,30009,30023) |
157 | $518,903 | 110 Days |
*The zip code of Johns Creek is 30022 and 30005, 2 Suwanee zip codes (30024 and 30076), and 1 Duluth zip code (30097). NOTE: Sales in the individual areas total less than 100%. Our broad geographic area includes additional cities and zip codes.
Want information on an area not reported? Add a comment to let me know. I’ll get you updated right away.
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