SEATTLE, July 16, 2013 (GLOBE NEWSWIRE) -- The 30-year fixed mortgage rate on Zillow® Mortgage Marketplace is currently 4.26 percent, down fifteen basis points from 4.41 percent at this time last week. The 30-year fixed mortgage rate hovered between 4.38 and 4.45 early last week, peaking at 4.48 last Thursday before declining near the current rate early this week.
"Last week, rates retreated from multi-year highs as Federal Reserve Chairman Ben Bernanke soothed concerns the Fed would scale back its stimulus program prematurely," said Erin Lantz, director of Zillow Mortgage Marketplace. "This week, markets will focus on Bernanke's congressional testimony on Wednesday and Thursday for signs the Fed is feeling more or less confident on the current state of the economy."
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 3.29 percent, while the rate for a 5-1 adjustable-rate mortgage (ARM) is 3.24 percent.
Below are current rates for 30-year fixed mortgages by state. Additional states' rates are available at: http://www.zillow.com/mortgage-rates.
| Current |
| Last week's |
|California Mortgage Rates||4.25%||4.41%||-16|
|Colorado Mortgage Rates||4.30%||4.42%||-12|
|Florida Mortgage Rates||4.24%||4.38%||-14|
|Illinois Mortgage Rates||4.25%||4.41%||-16|
|Massachusetts Mortgage Rates||4.27%||4.47%||-20|
|New Jersey Mortgage Rates||4.21%||4.36%||-15|
|New York Mortgage Rates||4.30%||4.45%||-15|
|Pennsylvania Mortgage Rates||4.23%||4.38%||-15|
|Texas Mortgage Rates||4.26%||4.42%||-16|
|Washington Mortgage Rates||4.25%||4.44%||-19|
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.
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CONTACT: Media Contact: Alison Paoli, Zillow 206-757-2701 or firstname.lastname@example.org