SEATTLE, July 2, 2013 (GLOBE NEWSWIRE) -- The 30-year fixed mortgage rate on Zillow ® Mortgage Marketplace is currently 4.17 percent, down twenty-one basis points from 4.38 percent at this time last week. The 30-year fixed mortgage rate hovered between 4.43 and 4.35 percent early last week, before falling near the current rate on Thursday.
"Last week mortgage rates retreated from a 23-month high as the Fed sought to reassure markets that the wind-down of the stimulus program would be gradual, and contingent upon strong improvement in economic fundamentals," said Erin Lantz, director of Zillow Mortgage Marketplace. "This coming week, market participants will be focused on Friday's jobs report as an indicator of whether the economic recovery is strong enough to withstand an earlier-than-expected withdrawal of Fed stimulus."
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 3.24 percent, while the rate for a 5-1 adjustable-rate mortgage (ARM) is 3.21 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 (07/02/13)||Last week's 30-Year Fixed Rate (06/25/13)||Change in Basis Points|
|California Mortgage Rates||4.16%||4.41%||-25|
|Colorado Mortgage Rates||4.22%||4.41%||-19|
|Florida Mortgage Rates||4.16%||4.35%||-19|
|Illinois Mortgage Rates||4.19%||4.36%||-17|
|Massachusetts Mortgage Rates||4.19%||4.41%||-22|
|New Jersey Mortgage Rates||4.15%||4.33%||-18|
|New York Mortgage Rates||4.22%||4.40%||-18|
|Pennsylvania Mortgage Rates||4.13%||4.37%||-24|
|Texas Mortgage Rates||4.17%||4.39%||-22|
|Washington Mortgage Rates||4.21%||4.42%||-21|
CONTACT: Media Contact: Alison Paoli, Zillow 206-757-2701 or firstname.lastname@example.org