Press Releases

30-Year Mortgage Rates Fall Again

Apr 21, 2009

Rates Continue Downward Trend on Monday, According to Zillow® Mortgage Rate Monitor

 

SEATTLE, April 21 /PRNewswire/ -- The weekly average rate borrowers were quoted on Zillow Mortgage Marketplace for thirty-year mortgages fell during the past week. Last week's rate was 5.06 percent, down from 5.10 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 decreased to 4.68 percent, down from 4.73 percent and 5-1 adjustable rate mortgages decreased substantially, down to 4.47 percent from 4.65 percent the week prior.

 

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

 


    Mortgage Type           Average Rate          Average Rate
                        Week ending 4/19/09   Week ending 4/12/09   % Change

    30-year fixed             5.06                  5.10              -0.9%
    15-year fixed             4.68                  4.73              -1.0%
    5-1 ARM                   4.47                  4.65              -3.8%


 

Rates for 30-year fixed purchase mortgages fell even further on Monday, with the average rate on Zillow Mortgage Marketplace at 4.99 percent. For current, up-to-the-minute rates, visit www.zillow.com/Mortgage_Rates/.

 

Thirty-year fixed mortgage rates varied by state. Maryland mortgage rates and New Jersey mortgage rates decreased the most, down from 5.17 percent to 5.10 percent in Maryland, and from 5.12 percent to 5.05 percent in New Jersey. Georgia mortgage rates (4.99%) and Florida mortgage rates (4.99%) were the lowest in the country, while Ohio mortgage rates (5.17%) were the highest. California mortgage rates were the most requested among all states.

 


    State              Average 30-yr.         Average 30-yr.
                         Fixed Rate             Fixed Rate
                     Week ending 4/19/09   Week ending 4/12/09     % Change

    Arizona                 5.05                  5.09                -0.8%
    California              5.06                  5.10                -0.8%
    Colorado                5.05                  5.06                -0.2%
    Connecticut             5.05                  5.10                -1.1%
    Florida                 4.99                  5.06                -1.3%
    Georgia                 4.99                  5.00                -0.2%
    Illinois                5.09                  5.14                -1.0%
    Maryland                5.10                  5.17                -1.4%
    Massachusetts           5.08                  5.15                -1.2%
    Michigan                5.07                  5.10                -0.7%
    New Jersey              5.05                  5.12                -1.4%
    New York                5.08                  5.14                -1.1%
    North Carolina          5.08                  5.11                -0.5%
    Ohio                    5.17                  5.22                -1.0%
    Oregon                  5.11                  5.11                 0.1%
    Pennsylvania            5.03                  5.09                -1.2%
    Texas                   5.02                  5.05                -0.5%
    Virginia                5.06                  5.11                -1.1%
    Washington              5.04                  5.08                -0.7%
    Wisconsin               5.13                  5.17                -0.7%


 

The Zillow Mortgage Rate Monitor is compiled each week using thousands of mortgage rates 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.

 

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.

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SOURCE: Zillow.com

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