SEATTLE, April 10, 2012 (GLOBE NEWSWIRE) -- The 30-year fixed mortgage rate on Zillow® Mortgage Marketplace is currently 3.73 percent, down eight basis points from 3.81 percent at this same time last week. After rising to 3.95 percent on Wednesday, the 30-year fixed mortgage rate hovered between 3.8 and 3.9 percent for the rest of the week, falling to the current rate early this morning.
"Spurred by an unimpressive U.S. jobs report and concerns about Spain's financial situation, mortgage rates fell to a four-week low after spiking early last week," said Erin Lantz, director of Zillow Mortgage Marketplace.
"This coming week, we expect rates to remain fairly flat, barring worsening news out of Europe or Federal Reserve commentary that contradicts the optimistic tone set by the release of the Fed's meeting minutes last week," added Lantz.
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 2.95 percent, while the rate for a 5-1 adjustable-rate mortgage (ARM) is 2.56 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 (04/10/12) |
Last week's 30-Year Fixed Rate (04/03/12) |
Change in Basis Points |
| California Mortgage Rates | 3.74% | 3.78% | -4 |
| Colorado Mortgage Rates | 3.75% | 3.78% | -3 |
| Florida Mortgage Rates | 3.72% | 3.86% | -14 |
| Illinois Mortgage Rates | 3.7% | 3.86% | -16 |
| Massachusetts Mortgage Rates | 3.77% | 3.81% | -4 |
| New Jersey Mortgage Rates | 3.72% | 3.79% | -7 |
| New York Mortgage Rates | 3.73% | 3.8% | -7 |
| Pennsylvania Mortgage Rates | 3.7% | 3.78% | -8 |
| Texas Mortgage Rates | 3.74% | 3.83% | -9 |
| Washington Mortgage Rates | 3.72% | 3.82% | -10 |
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 calculators, mortgage advice, mortgage widgets, and lender directories.
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