30-Year Fixed Mortgage Rate Continues to Slide, Hovers Above Record Low; Current Rate is 3.36%, According to Zillow Mortgage Rate Ticker
SEATTLE, Sept. 4, 2012 (GLOBE NEWSWIRE) -- The 30-year fixed mortgage rate on Zillow (Z)® Mortgage Marketplace is currently 3.36 percent, down three basis points from 3.39 percent at this same time last week. After peaking at 3.45 percent on Friday, the 30-year fixed mortgage rate dropped and hovered between 3.38 and 3.42 percent over the weekend, dropping to the current rate this morning.
"This week, rates remained fairly flat as Bernake's Jackson Hole speech on Friday kept the door open for more stimulus which could help keep rates near these low levels," said Erin Lantz, director of Zillow Mortgage Marketplace.
"With limited economic news this week, we expect little movement in rates, unless the European Central Bank meeting on Thursday offers more concrete and immediate steps to European recovery than the market anticipates," added Lantz.
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 2.73 percent, while the rate for a 5-1 adjustable-rate mortgage (ARM) is 2.35 percent.
Below are current rates for 30-year fixed mortgages by state. Additional states' rates are available at: http://www.zillow.com/mortgage-rates .
|California Mortgage Rates||3.38%||3.38%||0|
|Colorado Mortgage Rates||3.37%||3.43%||-6|
|Florida Mortgage Rates||3.33%||3.41%||-8|
|Illinois Mortgage Rates||3.37%||3.41%||-4|
|Massachusetts Mortgage Rates||3.38%||3.45%||-7|
|New Jersey Mortgage Rates||3.34%||3.38%||-4|
|New York Mortgage Rates||3.42%||3.46%||-4|
|Pennsylvania Mortgage Rates||3.34%||3.37%||-3|
|Texas Mortgage Rates||3.37%||3.38%||-1|
|Washington Mortgage Rates||3.35%||3.39%||-4|
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.
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CONTACT: Media Contact: Jill Simmons, Zillow 206-757-2701 or firstname.lastname@example.org
Source: Zillow 2012 GlobeNewswire, Inc.