30-Year Fixed Mortgage Rates Jump as Expectations for a December Rate Hike Solidify; Current Rate is 3.83%, According to Zillow Mortgage Rate Ticker

SEATTLE, Nov. 10, 2015 (GLOBE NEWSWIRE) -- The 30-year fixed mortgage rate on Zillow® Mortgages is currently 3.83 percent, up seventeen basis points from this time last week. The 30-year fixed mortgage rose steadily throughout the week before settling at the current rate.

"Mortgage rates moved decisively higher last week as the commentary of several Federal Open Market Committee members and an exceptionally strong jobs report solidified expectations for a December Fed rate hike," said Erin Lantz, vice president of mortgages at Zillow. "Markets will look for further signals about the strength of the economy in inflation and consumer confidence data in this holiday-shortened week."

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 2.98 percent, while the rate for a 5-1 adjustable-rate mortgage (ARM) is 2.99 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
Fixed Rate
Last Week's
Fixed Rate
Change in
California Mortgage Rates 3.82% 3.65% +17
Colorado Mortgage Rates 3.84% 3.66% +18
Florida Mortgage Rates 3.83% 3.69% +14
Illinois Mortgage Rates 3.86% 3.67% +19
Massachusetts Mortgage Rates 3.85% 3.74% +11
New Jersey Mortgage Rates 3.85% 3.75% +10
New York Mortgage Rates 3.92% 3.67% +25
Pennsylvania Mortgage Rates 3.82% 3.74% +8
Texas Mortgage Rates 3.82% 3.63% +19
Washington Mortgage Rates 3.84% 3.67% +17

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 press@zillow.com