30-Year Fixed Mortgage Rate Drops Slightly; Current Rate is 3.24%, According to Zillow Mortgage Rate Ticker

30-Year Fixed Mortgage Rate Drops Slightly; Current Rate is 3.24%, According
to Zillow Mortgage Rate Ticker

SEATTLE, Oct. 30, 2012 (GLOBE NEWSWIRE) -- The 30-year fixed mortgage rate on
Zillow® Mortgage Marketplace is currently 3.24 percent, down four basis points
from 3.28 percent at this same time last week. After peaking at 3.34 percent
on Friday, the 30-year fixed mortgage rate dropped and hovered between 3.22
and 3.28 percent over the weekend, dropping to the current rate this morning.

"Rates remained in a holding pattern last week as market attention was focused
less on recent economic news and more on headlines about the U.S. election,
Hurricane Sandy and the fiscal cliff," said Erin Lantz, director of Zillow
Mortgage Marketplace. "This week, despite a busy calendar of U.S. economic
releases and a wave of third-quarter earnings reports, we expect rates will
remain roughly unchanged unless the October jobs report exceeds or misses
expectations by a large margin."

Zillow's real-time mortgage rates are based on thousands of custom mortgage
quotes submitted daily to anonymous borrowers on the Zillow Mortgage
Marketplace 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 2.62 percent, while the
rate for a 5-1 adjustable-rate mortgage (ARM) is 2.4 percent.

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

                             Current    Last week's
State                        30-Year    30-Year     Change in
                             Fixed Rate Fixed Rate  Basis Points
                             (10/30/12) (10/23/12)
California Mortgage Rates    3.24%      3.27%       -3
Colorado Mortgage Rates      3.22%      3.34%       -12
Florida Mortgage Rates       3.19%      3.3%        -11
Illinois Mortgage Rates      3.23%      3.27%       -4
Massachusetts Mortgage Rates 3.28%      3.33%       -5
New Jersey Mortgage Rates    3.35%      3.25%       +10
New York Mortgage Rates      3.29%      3.4%        -11
Pennsylvania Mortgage Rates  3.24%      3.26%       -2
Texas Mortgage Rates         3.25%      3.31%       -6
Washington Mortgage Rates    3.24%      3.29%       -5

About Zillow Mortgage Marketplace

Zillow Mortgage Marketplace, 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 Mortgage
Marketplace also provides mortgage calculators, mortgage advice, mortgage
widgets, and lender directories.

The Zillow logo is available at

Zillow is a registered trademark of Zillow, Inc.

CONTACT: Media Contact:
         Jill Simmons, Zillow
         206-757-2701 or press@zillow.com

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