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30-year Fixed Rates Inch Upward After Four Weeks of Declines

Rates Rise Further on Monday, According to Zillow® Mortgage Rate Monitor

SEATTLE, July 21 /PRNewswire/ -- The weekly average rate borrowers were quoted on Zillow Mortgage Marketplace for 30-year fixed mortgages increased last week to 5.31 percent, up from 5.26 percent the week prior, according to the Zillow Mortgage Rate Monitor, compiled by leading real estate Web site Zillow.com®. Meanwhile, rates for 15-year fixed mortgages rose to 4.69 percent from 4.65 percent, and 5-1 adjustable rate mortgages also rose to 4.31 percent, down from 4.30 the week prior.

                          Average Rate          Average Rate
    Mortgage Type     Week ending 7/19/09    Week ending 7/12/09  % Change
    -------------    -------------------- ----------------------  --------
    30-year fixed             5.31%                5.26%             1.0%
    -------------             ----                 ----              ---
    15-year fixed             4.69%                4.65%             0.9%
    -------------             ----                 ----              ---
    5-1 ARM                   4.31%                4.30%             0.2%
    -------                   ----                 ----              ---


On Monday, rates for 30-year fixed purchase mortgages increased further, with the average rate on Zillow Mortgage Marketplace at 5.35 percent. For current, up-to-the-minute rates, visit www.zillow.com/Mortgage_Rates/.

Thirty-year fixed mortgage rates varied by state. Minnesota mortgage rates and Maryland mortgage rates increased the most, from 5.32 percent to 5.40 percent in Minnesota and from 5.33 percent to 5.40 percent in Maryland. Illinois mortgage rates (5.41%), Minnesota mortgage rates (5.40%) and Maryland mortgage rates (5.40%) were the highest in the country, while Georgia mortgage rates (5.22%) were the lowest. California mortgage rates were the most requested among all states.

                  Average 30-yr. Fixed    Average 30-yr. Fixed
                          Rate                    Rate
    State          Week ending 7/19/09     Week ending 7/12/09    % Change
    -----        ---------------------- -----------------------   --------
    Arizona                  5.31%                5.29%             0.4%
    -------                  ----                 ----              ---
    California               5.27%                5.21%             1.2%
    ----------               ----                 ----              ---
    Colorado                 5.30%                5.26%             0.8%
    --------                 ----                 ----              ---
    Connecticut              5.35%                5.29%             1.1%
    -----------              ----                 ----              ---
    Florida                  5.26%                5.21%             1.0%
    -------                  ----                 ----              ---
    Georgia                  5.22%                5.16%             1.2%
    -------                  ----                 ----              ---
    Illinois                 5.41%                5.36%             0.9%
    --------                 ----                 ----              ---
    Maryland                 5.40%                5.33%             1.3%
    --------                 ----                 ----              ---
    Massachusetts            5.39%                5.36%             0.6%
    -------------            ----                 ----              ---
    Michigan                 5.33%                5.31%             0.4%
    --------                 ----                 ----              ---
    Minnesota                5.40%                5.32%             1.5%
    ---------                ----                 ----              ---
    New Jersey               5.32%                5.30%             0.4%
    ----------               ----                 ----              ---
    New York                 5.36%                5.34%             0.4%
    --------                 ----                 ----              ---
    North Carolina           5.32%                5.28%             0.8%
    --------------           ----                 ----              ---
    Ohio                     5.37%                5.39%            -0.4%
    ----                     ----                 ----             ----
    Oregon                   5.33%                5.29%             0.4%
    ------                   ----                 ----              ---
    Pennsylvania             5.30%                5.26%             0.8%
    ------------             ----                 ----              ---
    Texas                    5.28%                5.23%             1.0%
    -----                    ----                 ----              ---
    Virginia                 5.31%                5.25%             1.1%
    --------                 ----                 ----              ---
    Washington               5.31%                5.26%             1.0%
    ----------               ----                 ----              ---


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.

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

SOURCE Zillow.com

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PRN Photo Desk, photodesk@prnewswire.com

SOURCE: Zillow.com

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


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