SEATTLE, Jan. 8, 2013 (GLOBE NEWSWIRE) -- The 30-year fixed mortgage rate on Zillow ® Mortgage Marketplace is currently 3.33 percent, up two basis points from 3.31 at this same time last week. After peaking at 3.43 percent on Friday, the 30-year fixed rate fluctuated between 3.35 and 3.4 percent over the remainder of the week before dropping to the current rate this morning.
"Last week rates rose to the highest levels in nearly four months after another solid jobs report and Federal Open Market Committee meeting minutes revealed some Fed policy makers were open to scaling back QE3 bond purchases sooner than the market had anticipated," said Erin Lantz, director of Zillow Mortgage Marketplace.
"This coming week, with few economic data releases planned, we expect rates to remain fairly level at this new, higher plateau," added Lantz.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 2.62 percent, while the rate for a 5-1 adjustable-rate mortgage (ARM) is 2.5 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 (01/08/13)||Last week's 30-Year Fixed Rate (01/02/13)||Change in Basis Points|
|California Mortgage Rates||3.31%||3.34%||-3|
|Colorado Mortgage Rates||3.37%||3.31%||+6|
|Florida Mortgage Rates||3.34%||3.27%||+7|
|Illinois Mortgage Rates||3.31%||3.32%||-1|
|Massachusetts Mortgage Rates||3.35%||3.31%||+4|
|New Jersey Mortgage Rates||3.33%||3.28%||+5|
|New York Mortgage Rates||3.32%||3.29%||+3|
|Pennsylvania Mortgage Rates||3.3%||3.27%||+3|
|Texas Mortgage Rates||3.4%||3.32%||+8|
|Washington Mortgage Rates||3.33%||3.3%||+3|
CONTACT: Media Contact: Jill Simmons, Zillow 206-757-2701 or email@example.com