30-Year Fixed Mortgage Rates Rise for First Time in 3 Weeks; Current Rate is 4.05%, According to Zillow Mortgage Rate Ticker

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SEATTLE, Nov. 5, 2013 (GLOBE NEWSWIRE) -- The 30-year fixed mortgage rate on Zillow® Mortgage Marketplace is currently 4.05 percent, up 10 basis points from 3.95 percent at this time last week. The 30-year fixed mortgage rates steadily rose last week before leveling off near 4.05 percent over the weekend.

"Mortgage rates rose mid-week on stronger-than-expected manufacturing data suggesting improvement in the U.S. economy," said Erin Lantz, director of mortgages at Zillow. "Next week, we expect rates to remain steady until the jobs report is released on Friday, offering more insight into the strength of the economic recovery."

Zillow's real-time mortgage rates are based on thousands of custom mortgage quotes submitted daily to anonymous borrowers on the Zillow Mortgage Marketplace site, and reflect the most recent changes in the market. These are not marketing rates, or a weekly survey.

The rate for a 15-year fixed home loan is currently 3.08 percent, while the rate for a 5-1 adjustable-rate mortgage (ARM) is 2.76 percent.

Below are current rates for 30-year fixed mortgages by state. Additional states' rates are available at: http://www.zillow.com/mortgage-rates.

State Current 30-Year Fixed Rate (11/05/13) Last week's 30-Year Fixed Rate (10/29/13) Change in Basis Points
California Mortgage Rates 4.09% 3.98% +11
Colorado Mortgage Rates 4.08% 3.98% +10
Florida Mortgage Rates 4.01% 3.92% +9
Illinois Mortgage Rates 4.07% 3.97% +10
Massachusetts Mortgage Rates 4.05% 3.98% +7
New Jersey Mortgage Rates 4.01% 3.90% +11
New York Mortgage Rates 4.07% 3.98% +9
Pennsylvania Mortgage Rates 4.01% 3.90% +11
Texas Mortgage Rates 4.06% 3.96% +10
Washington Mortgage Rates 4.09% 4% +9

About Zillow Mortgage Marketplace

Zillow Mortgage Marketplace, operated by Zillow, Inc., is a free, open, and transparent lending marketplace, where borrowers connect with lenders to find loans and get the best mortgage rates. Borrowers anonymously submit loan requests and receive an unlimited number of custom mortgage quotes with real rates directly from thousands of competing lenders. Zillow Mortgage Marketplace also provides mortgage calculators, mortgage advice, mortgage widgets, and lender directories.

Zillow is a registered trademark of Zillow, Inc.

CONTACT: Media Contact: Alison Paoli, Zillow 206-757-2701 or press@zillow.com