SEATTLE, April 15, 2014 (GLOBE NEWSWIRE) -- The 30-year fixed mortgage rate on Zillow ® Mortgage Marketplace is currently 4.14 percent, down six basis points from this time last week. The 30-year fixed mortgage rate plummeted on Wednesday from 4.24 percent to 4.12 percent, where rates have continued to hover into this week.
"Last week, rates dropped to their lowest levels in six weeks as investors shifted out of stocks and into safer assets, like U.S. Treasuries and mortgage-backed-securities," said Erin Lantz, vice president of mortgages at Zillow. "This week, there is a full slate of economic reports scheduled for release, with the potential to nudge rates up."
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 3.15 percent, while the rate for a 5-1 adjustable-rate mortgage (ARM) is 2.80 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 (04/15/14)||Last Week's 30-Year Fixed Rate (04/08/14)||Change in Basis Points|
|California Mortgage Rates||4.14%||4.22%||-8|
|Colorado Mortgage Rates||4.14%||4.20%||-6|
|Florida Mortgage Rates||4.14%||4.19%||-5|
|Illinois Mortgage Rates||4.18%||4.28%||-10|
|Massachusetts Mortgage Rates||4.14%||4.23%||-9|
|New Jersey Mortgage Rates||4.14%||4.17%||-3|
|New York Mortgage Rates||4.24%||4.22%||+2|
|Pennsylvania Mortgage Rates||4.12%||4.17%||-5|
|Texas Mortgage Rates||4.13%||4.20%||-7|
|Washington Mortgage Rates||4.17%||4.18%||-1|
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