SEATTLE, Dec. 17, 2013 (GLOBE NEWSWIRE) -- The 30-year fixed mortgage rate on Zillow® Mortgage Marketplace is currently 4.30 percent, up four basis points from 4.26 percent at this time last week. The 30-year fixed mortgage rate hovered around 4.26 percent early last week and spiked to 4.35 percent on Friday before leveling off at 4.30 percent during the weekend.
"Rates rose slightly last week on economic reports that indicate an encouraging outlook for the U.S. economy," said Erin Lantz, director of mortgages at Zillow. "This week, we expect any material market movement will wait until the Federal Open Market Committee announcement on Wednesday which will reveal the Federal Reserve's timeline for scaling back its stimulus program."
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 3.27 percent, while the rate for a 5-1 adjustable-rate mortgage (ARM) is 2.79 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 (12/17/13) |
Last week's 30-Year Fixed Rate (12/10/13) |
Change in Basis Points |
||
| California Mortgage Rates | 4.32% | 4.28% | +4 | ||
| Colorado Mortgage Rates | 4.35% | 4.31% | +4 | ||
| Florida Mortgage Rates | 4.26% | 4.23% | +3 | ||
| Illinois Mortgage Rates | 4.33% | 4.31% | +2 | ||
| Massachusetts Mortgage Rates | 4.28% | 4.26% | +2 | ||
| New Jersey Mortgage Rates | 4.28% | 4.24% | +4 | ||
| New York Mortgage Rates | 4.29% | 4.26% | +3 | ||
| Pennsylvania Mortgage Rates | 4.27% | 4.22% | +5 | ||
| Texas Mortgage Rates | 4.33% | 4.27% | +6 | ||
| Washington Mortgage Rates | 4.31% | 4.24% | +7 |
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.
Zillow is a registered trademark of Zillow, Inc.
Please note: Zillow will not release a weekly mortgage rate alert next Tuesday, December 24th. Mortgage rate alerts will resume the following week on December 31st.
The Zillow logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=10012