30-Year Fixed Mortgage Rates Fall to Lowest Level in Six Weeks; Current Rate is 4.14%, According to Zillow Mortgage Rate Ticker

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| Source: Zillow

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  

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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The Zillow logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=10012

Media Contact:
Laura Lowery, Zillow
206-799-5604 or