SEATTLE, Dec. 26, 2012 (GLOBE NEWSWIRE) -- The 30-year fixed mortgage rate on Zillow® Mortgage Marketplace is currently 3.24 percent, unchanged from this same time last week. The 30-year fixed mortgage rate hovered between 3.2 and 3.25 percent for the majority of the week, rising to the current rate this morning.
"This past week rates remained flat, still buoyed by optimism that lawmakers might be able to reach a compromise on the fiscal cliff before year-end," said Erin Lantz, director of Zillow Mortgage Marketplace. "However, as we enter the last week of the year rates may reverse course back downward unless lawmakers are able to quickly agree on a plan."
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 2.59 percent, while the rate for a 5-1 adjustable-rate mortgage (ARM) is 2.52 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||Fixed Rate||Fixed Rate||Basis Points|
|California Mortgage Rates||3.26%||3.24%||+2|
|Colorado Mortgage Rates||3.32%||3.29%||+3|
|Florida Mortgage Rates||3.25%||3.26%||-1|
|Illinois Mortgage Rates||3.21%||3.25%||-4|
|Massachusetts Mortgage Rates||3.21%||3.27%||-6|
|New Jersey Mortgage Rates||3.22%||3.2%||+2|
|New York Mortgage Rates||3.27%||3.24%||+3|
|Pennsylvania Mortgage Rates||3.22%||3.17%||+5|
|Texas Mortgage Rates||3.25%||3.25%||0|
|Washington Mortgage Rates||3.26%||3.27%||-1|
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.
Zillow logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=10012
Zillow is a registered trademark of Zillow, Inc.
Given the U.S. public holiday of New Years on Tuesday, January 1st 2013, Zillow Mortgage Marketplace weekly rates will be published on Wednesday, January 2nd. For more information on mortgage rates, please visit: http://www.zillow.com/mortgage-rates/
CONTACT: Media Contact: Jill Simmons, Zillow 206-757-2701 or firstname.lastname@example.org