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30-Year Fixed Mortgage Rates Rise on Expectations for a December Rate Hike; Current Rate is 3.66%, According to Zillow Mortgage Rate Ticker

SEATTLE, Nov. 3, 2015 (GLOBE NEWSWIRE) -- The 30-year fixed mortgage rate on Zillow® Mortgages is currently 3.66 percent, up three basis points from this time last week. The 30-year fixed mortgage rose early in the week, then hovered around 3.69 percent before dipping to the current rate.

"Mortgage rates increased last week as Wednesday's Federal Open Market Committee meeting minutes solidified expectations of a December Fed rate hike," said Erin Lantz, vice president of mortgages at Zillow. "This week, more market movement is likely, as all eyes will be watching mid-week Fed speeches and Friday's monthly jobs report."

Zillow's real-time mortgage rates are based on thousands of custom mortgage quotes submitted daily to anonymous borrowers on the Zillow Mortgages 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 2.86 percent, while the rate for a 5-1 adjustable-rate mortgage (ARM) is 2.89 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
(11/3/15)

Last Week's
30-Year
Fixed Rate
(10/27/15)


Change in
Basis
Points
California Mortgage Rates 3.65% 3.61% +4
Colorado Mortgage Rates 3.66% 3.60% +6
Florida Mortgage Rates 3.69% 3.60% +9
Illinois Mortgage Rates 3.67% 3.62% +5
Massachusetts Mortgage Rates 3.74% 3.69% +5
New Jersey Mortgage Rates 3.75% 3.63% +12
New York Mortgage Rates 3.67% 3.67% 0
Pennsylvania Mortgage Rates 3.74% 3.64% +10
Texas Mortgage Rates 3.63% 3.57% +6
Washington Mortgage Rates 3.67% 3.62% +5

About Zillow Mortgages

Zillow Mortgages, 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 Mortgages also provides mortgage calculators, mortgage advice, mortgage widgets, and lender directories.

Zillow is a registered trademark of Zillow, Inc.

The Zillow logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=28924

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

Source:Zillow