SEATTLE, Jan. 28, 2014 (GLOBE NEWSWIRE) -- The 30-year fixed mortgage rate on Zillow® Mortgage Marketplace is currently 4.18 percent, down five basis points from 4.23 percent at this time last week. The 30-year fixed mortgage rate remained stable for the majority of the week, peaking on Wednesday at 4.26 before dropping to the current rate over the weekend.
"Last week, rates dipped abruptly after China's lackluster manufacturing report triggered concerns about the health of the global economy," said Erin Lantz, director of mortgages at Zillow. "This week, markets will look to Wednesday's Fed announcement about unwinding its stimulus program and Thursday's GDP numbers as indicators of whether the US economy can continue to improve. Mortgage rates could be affected by either or both."
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 3.18 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 (01/28/14) |
Last Week's 30-Year Fixed Rate (01/21/14) |
Change in Basis Points |
| California Mortgage Rates | 4.17% | 4.24% | -7 |
| Colorado Mortgage Rates | 4.20% | 4.25% | -5 |
| Florida Mortgage Rates | 4.17% | 4.21% | -4 |
| Illinois Mortgage Rates | 4.17% | 4.23% | -6 |
| Massachusetts Mortgage Rates | 4.21% | 4.22% | -1 |
| New Jersey Mortgage Rates | 4.18% | 4.21% | -3 |
| New York Mortgage Rates | 4.18% | 4.25% | -7 |
| Pennsylvania Mortgage Rates | 4.16% | 4.19% | -3 |
| Texas Mortgage Rates | 4.16% | 4.24% | -8 |
| Washington Mortgage Rates | 4.19% | 4.25% | -6 |
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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