SEATTLE, July 05, 2017 (GLOBE NEWSWIRE) -- The 30-year fixed mortgage rate on Zillow® Mortgages is currently 3.83 percent, up 16 basis points from this time last week. The 30-year fixed mortgage rate rose throughout the week, reaching 3.87 percent on Tuesday before falling to the current rate on Wednesday.

“Mortgage rates moved decisively higher last week, reaching their highest levels in two months, on speculation that the European Central Bank is looking to end its bond-buying program which has helped hold down long-term interest rates around the world,” said Erin Lantz, vice president of mortgages at Zillow. “Despite a holiday-shortened week, important economic news later in the week – notably today’s publication of the minutes from the Federal Reserve’s June meeting and Friday’s monthly jobs report – could move rates.”

Zillow’s real-time mortgage rates are based on thousands of custom mortgage quotes submitted daily to anonymous borrowers on the Zillow Mortgages 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 3.07 percent, while the rate for a 5-1 adjustable-rate mortgage (ARM) is 3.09 percent. 

Below are current rates for 30-year fixed mortgages by state. Additional states’ rates are available at: http://www.zillow.com/mortgage-rates.

      
 StateCurrent
30-Year Fixed Rate (7/5/17)
Last Week’s 30-Year Fixed Rate (6/27/17)Change in Basis Points 
 California Mortgage Rates3.81%3.69%+12 
 Colorado Mortgage Rates3.73%3.71%+2 
 Florida Mortgage Rates3.81%3.66%+15 
 Illinois Mortgage Rates3.84%3.72%+12 
 Massachusetts Mortgage Rates3.82%3.67%+15 
 New Jersey Mortgage Rates3.80%3.65%+15 
 New York Mortgage Rates3.91%3.78%+13 
 Pennsylvania Mortgage Rates3.82%3.66%+16 
 Texas Mortgage Rates3.81%3.65%+16 
 Washington Mortgage Rates3.86%3.70%+16 

About Zillow Mortgages
Zillow Mortgages, 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 Mortgages also provides mortgage calculators, mortgage advice, mortgage widgets, and lender directories

Zillow is a registered trademark of Zillow, Inc.

Media Contact: 
Catharine Neilson, Zillow
press@zillow.com