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30-Year Fixed Mortgage Rate Remains Flat; Current Rate is 3.17%, According to Zillow Mortgage Rate Ticker

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SEATTLE, Dec. 11, 2012 (GLOBE NEWSWIRE) -- The 30-year fixed mortgage rate on Zillow® Mortgage Marketplace is currently 3.17 percent, up one basis point from 3.16 percent at this same time last week. After peaking at 3.22 percent on Friday, the 30-year fixed rate fluctuated between 3.15 and 3.2 percent over the remainder of the week before rising to the current rate this morning.

"Rates rose slightly after a stronger-than-expected jobs report on Friday, but the boost was short-lived and rates returned to the same low levels as the past few weeks," said Erin Lantz, director of Zillow Mortgage Marketplace. "We expect rates to remain fairly flat this week in anticipation of the Federal Reserve's plans to extend 'Operation Twist,' the treasury and bond buying program that has helped keep rates low."

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 2.57 percent, while the rate for a 5-1 adjustable-rate mortgage (ARM) is 2.37 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
(12/11/12)
Last week's
30-Year
Fixed Rate
(12/04/12)
Change in
Basis Points
California Mortgage Rates 3.18% 3.17% +1
Colorado Mortgage Rates 3.16% 3.19% -3
Florida Mortgage Rates 3.16% 3.13% +3
Illinois Mortgage Rates 3.23% 3.21% +2
Massachusetts Mortgage Rates 3.2% 3.13% +7
New Jersey Mortgage Rates 3.18% 3.11% +7
New York Mortgage Rates 3.17% 3.28% -11
Pennsylvania Mortgage Rates 3.14% 3.12% +2
Texas Mortgage Rates 3.19% 3.18% +1
Washington Mortgage Rates 3.17% 3.21% -4

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.

The Zillow logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=10012

Zillow is a registered trademark of Zillow, Inc.

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

Source:Zillow