Press Releases

Mortgage Rates Rise in Past Week; Current 30-Year Fixed Rate is 4.93%, According to Zillow® Mortgage Rate Ticker

Mar 30, 2010

SEATTLE, March 30 /PRNewswire/ -- The 30-year fixed mortgage rate on Zillow Mortgage Marketplace is currently 4.93 percent, up thirteen basis points from 4.80 percent compared to this same time last week. The 30-year fixed mortgage spiked late Wednesday at 4.98 percent, before leveling off just above 4.90 percent over the weekend.

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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 15-year fixed home loans is currently 4.26 percent, while the rate for 5-1 adjustable-rate mortgages (ARM) is 3.53 percent.

The total volume of mortgage requests in the past week was up 7 percent from the prior week. Of last week's requests, 29 percent were for refinance loans, 69 percent were for purchase loans and 2 percent were for home equity loans. The prior week, 31 percent of requests were for refinance loans, 67 percent were for purchase loans and 2 percent were for home equity loans.

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

   
             
 

State

Current
30-Year
Fixed Rate
(3/30/10)

Last week's
30-Year
Fixed Rate
(3/23/10)

Change in
Basis Points

   
 

California Mortgage Rates

4.91%

4.76%

+15

   
 

Colorado Mortgage Rates

4.91%

4.82%

+9

   
 

Florida Mortgage Rates

5.06%

4.72%

+34

   
 

Illinois Mortgage Rates

4.95%

4.76%

+19

   
 

Massachusetts Mortgage Rates

5.14%

4.96%

+18

   
 

New Jersey Mortgage Rates

4.90%

4.75%

+15

   
 

New York Mortgage Rates

4.92%

4.85%

+7

   
 

Pennsylvania Mortgage Rates

4.98%

4.85%

+13

   
 

Texas Mortgage Rates

4.97%

4.88%

+9

   
 

Washington Mortgage Rates

4.93%

4.75%

+18

   
             
   
           

 

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 is a registered trademark of Zillow, Inc.

SOURCE Zillow.com


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