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SEATTLE, Nov. 19, 2013 (GLOBE NEWSWIRE) -- The 30-year fixed
mortgage rate on
Zillow ® Mortgage Marketplace is currently 4.06 percent, a 16-basis-point drop from 4.22 percent at this time last week. The 30-year fixed mortgage rate steadily declined last week, leveling off near 4.12 percent during the weekend before falling to the current rate this morning.
"Mortgage rates during the past week have fallen back to lower levels, helped by Federal Reserve vice chairman, Janet Yellen's assurances before the Senate Banking Committee that Federal Reserve stimulus won't be removed too quickly. This trend halves the increases of the prior two weeks," said Stan Humphries, chief economist at Zillow. "Looking ahead, rates will be influenced by the Federal Reserve's meeting minutes, scheduled for late Wednesday, as observers try to read the tea leaves to assess the likelihood of a December taper."
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 3.05 percent, while the rate for a 5-1 adjustable-rate mortgage (ARM) is 2.69 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.