SEATTLE, Feb. 25, 2014 (GLOBE NEWSWIRE) -- The 30-year fixed mortgage rate on Zillow ® Mortgage Marketplace is currently 4.18 percent, unchanged from this time last week. The 30-year fixed mortgage rate hovered around 4.22 percent for the majority of the week, dropping to as low as 4.07 percent on Sunday before spiking to the current rate on Monday.
"Rates were steady last week as uncertain economic data left markets with a fuzzy picture of the health of the economy," said Erin Lantz, director of mortgages at Zillow. "This week, we expect the uncertainty to continue, leaving rates fairly flat."
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 3.17 percent, while the rate for a 5-1 adjustable-rate mortgage (ARM) is 2.75 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 (02/25/14)||Last Week's 30-Year Fixed Rate (02/18/14)||Change in Basis Points|
|California Mortgage Rates||4.23%||4.20%||+3|
|Colorado Mortgage Rates||4.21%||4.22%||-1|
|Florida Mortgage Rates||4.17%||4.16%||+1|
|Illinois Mortgage Rates||4.23%||4.20%||+3|
|Massachusetts Mortgage Rates||4.17%||4.21%||-4|
|New Jersey Mortgage Rates||4.17%||4.17%||0|
|New York Mortgage Rates||4.19%||4.18%||+1|
|Pennsylvania Mortgage Rates||4.15%||4.14%||+1|
|Texas Mortgage Rates||4.16%||4.16%||0|
|Washington Mortgage Rates||4.18%||4.24%||-6|