30-Year Fixed Mortgage Rates Surge Following U.S. Presidential Election; Current Rate Is 3.78%, According To Zillow Mortgage Rate Ticker

SEATTLE, Nov. 15, 2016 (GLOBE NEWSWIRE) -- The 30-year fixed mortgage rate on Zillow® Mortgages is currently 3.78 percent, up 40 basis points from this time last week. The 30-year fixed mortgage jumped last Wednesday, then rose throughout the week before seeing another increase on Monday.

"Mortgage rates jumped by more than 30 basis points to their highest levels since the start of 2016 - the largest one-week jump since the June 2013 surge in rates - in the wake of the U.S. presidential election and the new set of uncertainties introduced into financial markets," said Erin Lantz, vice president of mortgages at Zillow. "This week, we expect less volatility although some market moves are possible following several important Fed Speeches — the Bank's first reactions since the election— and as the incoming Trump Administration continues to take shape."

Zillow's real-time mortgage rates are based on thousands of custom mortgage quotes submitted daily to anonymous borrowers on the Zillow Mortgages 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 2.94 percent, while the rate for a 5-1 adjustable-rate mortgage (ARM) is 2.92 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 (11/15/16) Last Week's 30-Year Fixed Rate (11/8/16) Change in Basis Points  
  California Mortgage Rates   3.78 %   3.38 % +40  
  Colorado Mortgage Rates   3.76 %   3.39 % +37  
  Florida Mortgage Rates   3.77 %   3.39 % +38  
  Illinois Mortgage Rates   3.80 %   3.38 % +42  
  Massachusetts Mortgage Rates   3.77 %   3.42 % +35  
  New Jersey Mortgage Rates   3.75 %   3.37 % +38  
  New York Mortgage Rates   3.81 %   3.45 % +36  
  Pennsylvania Mortgage Rates   3.78 %   3.40 % +38  
  Texas Mortgage Rates   3.76 %   3.37 % +39  
  Washington Mortgage Rates   3.80 %   3.38 % +42  

About Zillow MortgagesZillow Mortgages, 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 Mortgages also provides mortgage calculators, mortgage advice, mortgage widgets, and lender directories. 

Zillow is a registered trademark of Zillow, Inc.

 Media Contact: Catharine Neilson, Zillowpress@zillow.com

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