SEATTLE, Jan. 15, 2013 (GLOBE NEWSWIRE) -- The 30-year fixed mortgage rate on Zillow ® Mortgage Marketplace is currently 3.26 percent, down seven basis points from 3.33 at this same time last week. After peaking at 3.35 percent on Wednesday, the 30-year fixed rate hovered between 3.28 and 3.33 percent over the remainder of the week before dropping to the current rate this morning.
"Rates are down slightly from last week's 16-week high as optimism about an improving economy began to wane after successful fiscal cliff negotiations," said Erin Lantz, director of Zillow Mortgage Marketplace. "Although there is a fair amount of economic news scheduled this week, we don't expect any surprises that would move rates significantly."
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 2.59 percent, while the rate for a 5-1 adjustable-rate mortgage (ARM) is 2.44 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 (01/15/13)||Last week's 30-Year Fixed Rate (01/08/13)||Change in Basis Points|
|California Mortgage Rates||3.26%||3.31%||-5|
|Colorado Mortgage Rates||3.31%||3.37%||-6|
|Florida Mortgage Rates||3.25%||3.34%||-9|
|Illinois Mortgage Rates||3.29%||3.31%||-2|
|Massachusetts Mortgage Rates||3.23%||3.35%||-12|
|New Jersey Mortgage Rates||3.18%||3.33%||-15|
|New York Mortgage Rates||3.31%||3.32%||-1|
|Pennsylvania Mortgage Rates||3.17%||3.3%||-13|
|Texas Mortgage Rates||3.31%||3.4%||-9|
|Washington Mortgage Rates||3.24%||3.33%||-9|