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National 30-year Fixed Mortgage Rates Continue to Fall; Weekly Average Rates Below 5.00% in Some States

National Rate Below 5.00% Monday, According to Zillow® Mortgage Rate Monitor

Sep 15, 2009

 

 

 

SEATTLE, Sept. 15 /PRNewswire/ -- The weekly average rate borrowers were quoted on Zillow Mortgage Marketplace for 30-year fixed mortgages decreased last week to 5.04 percent, down from 5.09 percent the week prior, according to the Zillow Mortgage Rate Monitor, compiled by leading real estate Web site Zillow.com®. Rates for 15-year fixed mortgages fell to 4.48 percent from 4.49 percent, and 5-1 adjustable rate mortgages fell to 4.02 percent, down from 4.06 the week prior.

 

(Logo: http://www.newscom.com/cgi-bin/prnh/20060503/ZILLOWLOGO)

 

                           Average Rate             Average Rate
    Mortgage Type       Week ending 9/13/09      Week ending 9/6/09  % Change
    -------------      --------------------  ----------------------   --------
    30-year fixed            5.04%                      5.09%          -1.0%
    -------------            ----                       ----           ----
    15-year fixed            4.48%                      4.49%          -0.4%
    -------------            ----                       ----           ----
    5-1 ARM                  4.02%                      4.06%          -1.1%
    -------                  ----                       ----           ----


 

On Monday, rates for 30-year fixed purchase mortgages decreased further, with the average rate on Zillow Mortgage Marketplace at 4.98 percent. For current, up-to-the-minute rates, visit www.zillow.com/Mortgage_Rates/.

 

Thirty-year fixed mortgage rates varied by state. Virginia mortgage rates, Washington mortgage rates, and New York mortgage rates decreased the most, from 5.06 percent to 4.96 percent in Virginia, from 5.10 percent to 5.00 percent in Washington and from 5.23 percent to 5.13 percent in New York. Oregon mortgage rates (5.19%) and Illinois mortgage rates (5.23%) were the highest in the country, while Colorado mortgage rates (4.97%) and Virginia mortgage rates (4.96%) were the lowest.


                  Average 30-yr. Fixed Rate  Average 30-yr. Fixed Rate   %
    State            Week ending 9/13/09      Week ending 9/6/09       Change
    -----           ---------------------- -----------------------    --------
    Arizona                 5.11%                   5.13%              -0.5%
    -------                 ----                    ----               ----
    California              4.98%                   5.03%              -0.9%
    ----------              ----                    ----               ----
    Colorado                4.97%                   5.05%              -1.4%
    --------                ----                    ----               ----
    Connecticut             5.04%                   5.12%              -1.5%
    -----------             ----                    ----               ----
    Florida                 5.03%                   5.06%              -0.5%
    -------                 ----                    ----               ----
    Georgia                 5.00%                   5.02%              -0.3%
    -------                 ----                    ----               ----
    Illinois                5.23%                   5.26%              -0.6%
    --------                ----                    ----               ----
    Maryland                5.11%                   5.15%              -0.9%
    --------                ----                    ----               ----
    Massachusetts           5.08%                   5.13%              -1.0%
    -------------           ----                    ----               ----
    Michigan                5.12%                   5.18%              -1.1%
    --------                ----                    ----               ----
    Minnesota               5.14%                   5.21%              -1.2%
    ---------               ----                    ----               ----
    New Jersey              5.12%                   5.17%              -1.0%
    ----------              ----                    ----               ----
    New York                5.13%                   5.23%              -1.9%
    --------                ----                    ----               ----
    North Carolina          5.06%                   5.14%              -1.5%
    --------------          ----                    ----               ----
    Oregon                  5.19%                   5.25%              -1.2%
    ------                  ----                    ----               ----
    Pennsylvania            5.14%                   5.17%              -0.5%
    ------------            ----                    ----               ----
    Texas                   5.08%                   5.12%              -0.8%
    -----                   ----                    ----               ----
    Virginia                4.96%                   5.06%              -2.1%
    --------                ----                    ----               ----
    Washington              5.00%                   5.10%              -2.0%
    ----------              ----                    ----               ----
    Wisconsin               5.07%                   5.09%              -0.3%
    ---------               ----                    ----               ----


 

The Zillow Mortgage Rate Monitor is compiled each week using thousands of mortgage rates for conforming loans quoted on Zillow Mortgage Marketplace by mortgage lenders to borrowers who have submitted loan requests. State-level data is gathered for the top 20 states with the highest quote volume on Zillow. Learn more about our rates.

 

About Zillow Mortgage Marketplace

Zillow Mortgage Marketplace 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.com and Zillow are registered trademarks of Zillow, Inc.

 

 

 

SOURCE Zillow Mortgage Marketplace

Photo: http://www.newscom.com/cgi-bin/prnh/20060503/ZILLOWLOGO
http://photoarchive.ap.org
PRN Photo Desk, photodesk@prnewswire.com

SOURCE: Zillow Mortgage Marketplace

Web site: http://www.zillow.com//


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