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SEATTLE, Oct. 9, 2012 (GLOBE NEWSWIRE) -- The 30-year fixed
mortgage rate on
Zillow ® Mortgage Marketplace is currently 3.26 percent, up seven basis points from 3.19 percent at this same time last week. The 30-year fixed mortgage rate hovered between 3.18 and 3.28 percent for the majority of the week, dropping to the current rate this morning.
"Mortgage rates rose slightly at the end of last week following the release of the Federal Open Market Committee's meeting minutes and a stronger than expected jobs report," said Erin Lantz, director of Zillow Mortgage Marketplace. "This week, we expect rates to remain fairly steady since we do not foresee any new announcements that have the potential to offset the optimistic tone set by last week's employment figures."
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 2.63 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: