Atlanta Area Mortgage Rate Survey February 10, 2012

According to a recent Primerates.com survey of Atlanta area mortgage rates offered by the largest area banks & credit unions, the Atlanta area institutions still offered rates with a spread of just over half a percent.  JP Morgan Chase (www.jpmorganchase.com) lowered their offered rates to the lowest rates on 30-year fixed -rate conforming loans in the Atlanta metro area for well-qualified borrowers to 3.75%.  Rates were staggered up to Branch Banking and Trust (www.bbt.com) still offering the highest at 4.31%.

With home prices continuing their decline, now is the perfect time to get into that new house.  Mortgage rates are at an all time low, prices are down considerably than what they were a few years ago (in fact Atlanta saw nearly a 12% decline in the price of homes from November 2010 to November 2012), and sellers are motivated to get rid of their house.

For buyers who are ready to make the commitment, rates and prices have never looked better.  But they still must be certain to go through the proper channels and take the right steps.  The first step is to find a lender who is qualified, and licensed.  By going with one of the top lending institutions a person can do just that.  They will know they are getting top of the line service, and from a credible source.  For buyers who have found a broker that they are unsure if they are legit, they can look them up on the National Association of Mortgage Broker’s site.  For Banks try the FDIC directory, and for credit unions search the National Credit Union Administration directory.

Listed rates for Atlanta area mortgage rates come from banks, thrifts and credit union and were listed on their websites on the date indicated for conforming loans with 0 points.  Data is believed accurate at time of collection, can change without notice, and will vary based on an individual’s credit history.  Contact a specific institution for current rates.