SEATTLE, Dec. 8, 2015 (GLOBE NEWSWIRE) -- The 30-year fixed mortgage rate on Zillow® Mortgages is currently 3.75 percent, up three basis points from this time last week. The 30-year fixed mortgage rose to 3.84 percent on Thursday, then hovered there before falling back to the current rate on Monday.
"Mortgage rates spiked late last week after the European Central Bank surprised markets by not expanding its asset purchase program, which aims to push rates lower," said Erin Lantz, vice president of mortgages at Zillow. "Following that spike, rates have retreated to only slightly above where they began the week. We expect markets to be quieter this week with few important data releases or speeches on the schedule."
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 2.91 percent, while the rate for a 5-1 adjustable-rate mortgage (ARM) is 2.92 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||3.74%||3.71%||+3|
|Colorado Mortgage Rates||3.76%||3.77%||-1|
|Florida Mortgage Rates||3.74%||3.76%||-2|
|Illinois Mortgage Rates||3.75%||3.75%||0|
|Massachusetts Mortgage Rates||3.81%||3.80%||+1|
|New Jersey Mortgage Rates||3.75%||3.73%||+2|
|New York Mortgage Rates||3.87%||3.82%||+5|
|Pennsylvania Mortgage Rates||3.77%||3.74%||+3|
|Texas Mortgage Rates||3.75%||3.75%||0|
|Washington Mortgage Rates||3.77%||3.76%||+1|
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.
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CONTACT: Media Contact: Catharine Neilson, Zillow email@example.com