SEATTLE, Dec. 6, 2011 (GLOBE NEWSWIRE) -- The 30-year fixed mortgage rate on Zillow® Mortgage Marketplace is currently 3.83 percent, down three basis points from 3.86 percent at this same time last week. After rising to 3.9 percent on Wednesday, the 30-year fixed mortgage rate dropped to 3.84 percent only to return to 3.89 percent on Friday. Rates remained between 3.85 and 3.8 percent for the rest of the week.
"Mortgage rates have hovered in a very narrow band between 3.8 and 3.9 percent during the past week," said Erin Lantz, director of Zillow Mortgage Marketplace. "Looking ahead, we can expect rates to remain steady in the coming weeks as European Union negotiations continue and rumors persist about the Federal Reserve announcing additional economic stimulus in the first quarter of 2012."
Zillow's real-time mortgage rates are based on thousands of custom mortgage quotes submitted daily to anonymous borrowers through the 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 3.19 percent, while the rate for a 5-1 adjustable-rate mortgage (ARM) is 2.71 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 (12/06/11) |
Last week's 30-Year Fixed Rate (11/2911) |
Change in Basis Points |
||
| California Mortgage Rates | 3.83% | 3.85% | -2 | ||
| Colorado Mortgage Rates | 3.85% | 3.8% | +5 | ||
| Florida Mortgage Rates | 3.78% | 3.81% | -3 | ||
| Illinois Mortgage Rates | 3.83% | 3.86% | -3 | ||
| Massachusetts Mortgage Rates | 3.87% | 3.89% | -2 | ||
| New Jersey Mortgage Rates | 3.86% | 3.89% | -3 | ||
| New York Mortgage Rates | 3.82% | 3.91% | -9 | ||
| Pennsylvania Mortgage Rates | 3.83% | 3.84% | -1 | ||
| Texas Mortgage Rates | 3.83% | 3.82% | +1 | ||
| Washington Mortgage Rates | 3.79% | 3.85% | +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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