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SEATTLE, Jan. 29, 2013 (GLOBE NEWSWIRE) -- The 30-year fixed
mortgage rate on
Zillow ® Mortgage Marketplace is currently 3.42 percent, up 14 basis points from 3.28 percent at this same time last week. After jumping to 3.45 percent on Friday, the 30-year fixed rate stayed flat over the remainder of the weekend before dropping to the current rate this morning.
"Mortgage rates spiked to a 5 month-high last week as markets reacted to positive domestic and international economic news. Another strong weekly jobs report suggested the U.S. economic recovery is picking up steam," said Erin Lantz, director of Zillow Mortgage Marketplace. "Abroad, markets welcomed news that many banks were planning to pay back the European Central Bank earlier than expected, suggesting some underlying strength in a European economic recovery."
If we continue to see the steady stream of strong economic indicators this week, we anticipate rates will rise slightly higher," 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 2.71 percent, while the rate for a 5-1 adjustable-rate mortgage (ARM) is 2.43 percent.
Below are current rates for 30-year fixed mortgages by state. Additional states' rates are available at:
About Zillow Mortgage Marketplace
Zillow Mortgage Marketplace, operated by Zillow, Inc., is a free, open, and transparent lending marketplace, where borrowers connect with lenders to find
loans and get the best
mortgage rates. Borrowers anonymously submit loan requests and receive an unlimited number of custom
mortgage quotes with real rates directly from thousands of competing lenders. Zillow Mortgage Marketplace also provides
mortgage widgets, and
Zillow is a registered trademark of Zillow, Inc.