SEATTLE, Oct. 16, 2012 (GLOBE NEWSWIRE) -- The 30-year fixed mortgage rate on Zillow ® Mortgage Marketplace is currently 3.26 percent, unchanged from 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.
"Last week, rates moved down slightly after the weak jobs report, but remained essentially flat after Monday's stronger-than-expected retail sales figures," said Erin Lantz, director of Zillow Mortgage Marketplace. "Although this is a fairly busy week for U.S. economic data, we expect rates to remain in this low range as the market awaits the European Union Summit on Thursday and looks for positive news that might offset renewed uncertainty about the health of the European 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 2.64 percent, while the rate for a 5-1 adjustable-rate mortgage (ARM) is 2.59 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 (10/16/12)||Last week's 30-Year Fixed Rate (10/09/12)||Change in Basis Points|
|California Mortgage Rates||3.27%||3.27%||0|
|Colorado Mortgage Rates||3.29%||3.28%||+1|
|Florida Mortgage Rates||3.29%||3.23%||+6|
|Illinois Mortgage Rates||3.23%||3.25%||-2|
|Massachusetts Mortgage Rates||3.26%||3.28%||-2|
|New Jersey Mortgage Rates||3.22%||3.21%||+1|
|New York Mortgage Rates||3.25%||3.29%||-4|
|Pennsylvania Mortgage Rates||3.19%||3.21%||-2|
|Texas Mortgage Rates||3.27%||3.23%||+4|
|Washington Mortgage Rates||3.27%||3.27%||0|
CONTACT: Media Contact: Jill Simmons, Zillow 206-757-2701 or email@example.com