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30-Year Fixed Mortgage Rates Remain Stable; Current Rate is 3.47%, According to Zillow Mortgage Rate Ticker

SEATTLE, May 31, 2016 (GLOBE NEWSWIRE) -- The 30-year fixed mortgage rate on Zillow® Mortgages is currently 3.47 percent, down one basis point from this time last week.

“Mortgage rates were essentially flat last week with incoming data and commentary largely in line with expectations,” said Erin Lantz, vice president of mortgages at Zillow. “This week all eyes will be on Friday’s Monthly Jobs Report, which will be the definitive statement on the health of the U.S. economy leading into the June FOMC meeting.”

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 2.71 percent, while the rate for a 5-1 adjustable-rate mortgage (ARM) is 2.84 percent.

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

StateCurrent
30-Year
Fixed Rate
(5/31/16)
Last Week’s
30-Year
Fixed Rate
(5/24/16)
Change in
Basis
Points
California Mortgage Rates 3.47% 3.52%-5
Colorado Mortgage Rates 3.47% 3.43%+4
Florida Mortgage Rates 3.48% 3.48%0
Illinois Mortgage Rates 3.44% 3.49%-5
Massachusetts Mortgage Rates 3.47% 3.46%+1
New Jersey Mortgage Rates 3.48% 3.46%+2
New York Mortgage Rates 3.54% 3.52%+2
Pennsylvania Mortgage Rates 3.48% 3.45%+3
Texas Mortgage Rates 3.46% 3.49%-3
Washington Mortgage Rates 3.48% 3.49%-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.

Zillow is a registered trademark of Zillow, Inc.

Media Contact: Catharine Neilson, Zillow press@zillow.com

Source: Zillow Group, Inc.