SEATTLE, March 11, 2014 (GLOBE NEWSWIRE) -- The 30-year fixed mortgage rate on Zillow® Mortgage Marketplace is currently 4.21 percent, up 10 basis points from this time last week. The 30-year fixed mortgage rate steadily rose last week, peaking at 4.27 percent on Monday before dropping slightly to today's rate.
"Rates rose on Monday to levels not seen since mid-January, as the situation in Ukraine appeared to improve and Friday's jobs report beat expectations," said Erin Lantz, director of mortgages at Zillow. "This week, we expect rates to remain fairly steady, unless the economic reports being released in the latter half of the week are strong enough to accelerate the gradual upward momentum we saw following last week's jobs report."
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 3.15 percent, while the rate for a 5-1 adjustable-rate mortgage (ARM) is 2.74 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 |
| Last Week's |
| Change in |
|California Mortgage Rates||4.25%||4.11%||+14|
|Colorado Mortgage Rates||4.24%||4.11%||+13|
|Florida Mortgage Rates||4.20%||4.13%||+7|
|Illinois Mortgage Rates||4.22%||4.12%||+10|
|Massachusetts Mortgage Rates||4.22%||4.07%||+15|
|New Jersey Mortgage Rates||4.21%||4.10%||+11|
|New York Mortgage Rates||4.21%||4.11%||+10|
|Pennsylvania Mortgage Rates||4.20%||4.12%||+8|
|Texas Mortgage Rates||4.21%||4.10%||+11|
|Washington Mortgage Rates||4.23%||4.11%||+12|
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.
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The Zillow logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=10012
CONTACT: Media Contact: Laura Lowery, Zillow 206-799-5604 or email@example.com