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SEATTLE, Jan. 2, 2013 (GLOBE NEWSWIRE) -- The 30-year fixed
mortgage rate on
Zillow ® Mortgage Marketplace is currently 3.31 percent, up seven basis points from 3.24 at this same time last week. The 30-year fixed mortgage rate hovered between 3.18 and 3.25 percent for the majority of the week, jumping to the current rate this morning.
"Last week, rates remained fairly flat until Congress approved a plan to avoid fiscal cliff tax hikes, pushing mortgage rates up slightly," said Erin Lantz, director of Zillow Mortgage Marketplace. "Even though Congress still has to work out a plan on spending cuts, we expect rates will continue to drift upward for the next few weeks as markets refocus on economic data instead of fiscal cliff deliberations."
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 2.54 percent.
Below are current rates for 30-year fixed mortgages by state. Additional states' rates are available at: