SEATTLE, Jan. 05, 2016 (GLOBE NEWSWIRE) -- The 30-year fixed mortgage rate on Zillow® Mortgages was 3.74 percent according to the latest data released on Monday i , down seven basis points from the same time last week. The 30-year fixed mortgage fell to 3.82 percent on Wednesday, then hovered there before dropping to the current rate on Monday.
“Mortgage rates fell early this week as financial markets returned from the New Year’s holiday to a collapse in Asian equities, which pushed capital flows to safe assets including US mortgage bonds,” said Erin Lantz, vice president of mortgages at Zillow. “We expect continued volatility this week leading up to Wednesday’s publication of the December Federal Open Market Committee meeting minutes and Friday’s all-important jobs report.”
Zillow’s real-time mortgage rates are based on thousands of custom mortgage quotes submitted daily to anonymous borrowers on the Zillow Mortgages site and reflect the most recent changes in the market. These are not marketing rates, or a weekly survey.
The rate for a 15-year fixed home loan is currently 2.96 percent, while the rate for a 5-1 adjustable-rate mortgage (ARM) is 2.97 percent.
Below are current rates for 30-year fixed mortgages by state. Additional states’ rates are available at: http://www.zillow.com/mortgage-rates .
| State | 30-Year Fixed Rate (1/4/16) | Last Week’s 30-Year Fixed Rate (12/29/15) | Change in Basis Points | ||||
| California Mortgage Rates | 3.74 | % | 3.80 | % | -6 | ||
| Colorado Mortgage Rates | 3.74 | % | 3.82 | % | -8 | ||
| Florida Mortgage Rates | 3.77 | % | 3.83 | % | -6 | ||
| Illinois Mortgage Rates | 3.77 | % | 3.86 | % | -9 | ||
| Massachusetts Mortgage Rates | 3.76 | % | 3.84 | % | -8 | ||
| New Jersey Mortgage Rates | 3.74 | % | 3.81 | % | -7 | ||
| New York Mortgage Rates | 3.79 | % | 3.93 | % | -14 | ||
| Pennsylvania Mortgage Rates | 3.74 | % | 3.80 | % | -6 | ||
| Texas Mortgage Rates | 3.75 | % | 3.82 | % | -7 | ||
| Washington Mortgage Rates | 3.77 | % | 3.83 | % | -6 | ||
About Zillow Mortgages Zillow Mortgages, operated by Zillow, Inc., 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 Mortgages also provides mortgage calculators , mortgage advice , mortgage widgets , and lender directories .
Zillow is a registered trademark of Zillow, Inc.
i Due to a data outage, rates from Tuesday, January 5 th were excluded from this release.
Media Contact: Catharine Neilson, Zillow press@zillow.com
