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30-Year Fixed Mortgage Rates Spike 21 Basis Points; Highest Levels Since May 2011, Current Rate is 4.52%, According to Zillow Mortgage Rate Ticker

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SEATTLE, Aug. 20, 2013 (GLOBE NEWSWIRE) -- The 30-year fixed mortgage rate on Zillow® Mortgage Marketplace is currently 4.52 percent, up 21 basis points from 4.31 percent at this time last week. The 30-year fixed mortgage rate steadily rose this week, peaking at 4.58 percent on Monday before dropping near the current rate this morning.

"Mortgage rates hit a two-year high on generally positive domestic economic news and stronger-than-expected European performance," said Erin Lantz, director of Zillow Mortgage Marketplace. "We expect rates to continue to rise gradually this week, unless Wednesday's Federal Reserve minutes contradict expectations that the Fed will begin to wind down its stimulus program in September."

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 3.48 percent, while the rate for a 5-1 adjustable-rate mortgage (ARM) is 3.18 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
(08/20/13)
Last week's
30-Year
Fixed Rate
(08/13/13)
Change in
Basis
Points
California Mortgage Rates 4.54% 4.35% +19
Colorado Mortgage Rates 4.55% 4.32% +23
Florida Mortgage Rates 4.51% 4.29% +22
Illinois Mortgage Rates 4.53% 4.29% +24
Massachusetts Mortgage Rates 4.51% 4.32% +19
New Jersey Mortgage Rates 4.50% 4.26% +24
New York Mortgage Rates 4.55% 4.36% +19
Pennsylvania Mortgage Rates 4.49% 4.27% +22
Texas Mortgage Rates 4.53% 4.31% +22
Washington Mortgage Rates 4.55% 4.34% +21

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 is a registered trademark of Zillow, Inc.

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

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

Source:Zillow