30-Year Fixed Mortgage Rate Ties Record Low; Current Rate is 3.18%, According
to Zillow Mortgage Rate Ticker
SEATTLE, Nov. 13, 2012 (GLOBE NEWSWIRE) -- The 30-year fixed mortgage rate on
Zillow® Mortgage Marketplace is currently 3.18 percent, down eight basis
points from 3.26 percent at this same time last week. This represents the
lowest rate reported since Zillow Mortgage Marketplace launched in April 2008
– the last time this rate was reported was on Sept. 25. After peaking at 3.35
percent on Wednesday, it fluctuated between 3.19 and 3.25 percent over the
remainder of the week before dipping to the current rate this morning.
"The post-election market has proven favorable for borrowers as mortgage rates
are now at an all-time low," said Erin Lantz, director of Zillow Mortgage
Marketplace. "Looking ahead, we expect rates to stay in record-low territory
as Congress works though a resolution for the looming fiscal cliff."
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 2.63 percent, while the
rate for a 5-1 adjustable-rate mortgage (ARM) is 2.38 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 30-Year Last week's 30-Year Change in
State Fixed Rate Fixed Rate (11/06/12) Basis Points
California Mortgage 3.21% 3.26% -5
Colorado Mortgage 3.16% 3.2% -4
Florida Mortgage 3.25% 3.24% +1
Illinois Mortgage 3.19% 3.22% -3
Massachusetts 3.2% 3.31% -11
New Jersey Mortgage 3.16% 3.25% -9
New York Mortgage 3.18% 3.15% +3
Pennsylvania Mortgage 3.14% 3.22% -8
Texas Mortgage Rates 3.24% 3.25% -1
Washington Mortgage 3.2% 3.29% -9
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.
Zillow is a registered trademark of Zillow, Inc.
The Zillow logo is available at
CONTACT: Media Contact:
Jill Simmons, Zillow
206-757-2701 or email@example.com
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