Press Releases

Mortgage Rates Decline; Current 30-Year Fixed Rate is 4.84%, According to Zillow Mortgage Rate Ticker

Feb 23, 2010

SEATTLE, Feb. 23 /PRNewswire/ -- The 30-year fixed mortgage rate on Zillow Mortgage Marketplace is currently 4.84 percent, up five basis points from 4.79 percent compared to this same time last week.

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The 30-year fixed mortgage peaked over the weekend at 4.95 percent – the highest rates have been in thirty days.

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 4.32 percent, while the rate for 5-1 adjustable-rate mortgages (ARM) is 3.67 percent.

The volume of mortgage requests in the past week rose 9.5 percent from the prior week. Of last week's requests, 30.2 percent were for refinance loans, 67.7 percent were for purchase loans and 2.1 percent were for home equity loans. The prior week, 30.8 percent of requests were for refinance loans, 67.1 percent were for purchase loans and 2.0 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 (2/23/10)

Last week's 30-Year Fixed Rate (2/16/10)

Change in Basis Points

   
 

California Mortgage Rates

4.82%

4.76%

+6

   
 

Colorado Mortgage Rates

4.92%

4.71%

+21

   
 

Florida Mortgage Rates

4.86%

4.75%

+11

   
 

Illinois Mortgage Rates

4.85%

4.82%

+3

   
 

Massachusetts Mortgage Rates

4.88%

4.91%

-3

   
 

New Jersey Mortgage Rates

4.89%

4.84%

+5

   
 

New York Mortgage Rates

5.00%

4.94%

+6

   
 

Pennsylvania Mortgage Rates

4.78%

4.89%

-11

   
 

Texas Mortgage Rates

4.82%

4.92%

-10

   
 

Washington Mortgage Rates

4.89%

4.86%

+3

   
             
   
   
           

 

 

 

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.com