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SEATTLE, April 1, 2014 (GLOBE NEWSWIRE) -- The 30-year fixed
mortgage rate on
Zillow ® Mortgage Marketplace is currently 4.25 percent, down 2 basis points from this time last week. The 30-year fixed mortgage rate peaked on Wednesday at 4.29 percent before falling to 4.20 percent, where rates hovered for the remainder of the week.
"Rates dropped last week, erasing most of the run-up triggered previously by the Fed's surprisingly aggressive guidance on plans to increase the Federal Funds Rate," said Erin Lantz, vice president of mortgages at Zillow. "We expect rates to remain fairly steady this week, not making any significant movements until after Friday's jobs report."
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 3.22 percent, while the rate for a 5-1 adjustable-rate mortgage (ARM) is 2.77 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.