30-Year Fixed Mortgage Rates Hit Five Month-High, Up 14 Basis Points; Current Rate is 3.42%, According to Zillow Mortgage Rate

30-Year Fixed Mortgage Rates Hit Five Month-High, Up 14 Basis Points; Current
Rate is 3.42%, According to Zillow Mortgage Rate Ticker

SEATTLE, Jan. 29, 2013 (GLOBE NEWSWIRE) -- The 30-year fixed mortgage rate on
Zillow® Mortgage Marketplace is currently 3.42 percent, up 14 basis points
from 3.28 percent at this same time last week. After jumping to 3.45 percent
on Friday, the 30-year fixed rate stayed flat over the remainder of the
weekend before dropping to the current rate this morning.

"Mortgage rates spiked to a 5 month-high last week as markets reacted to
positive domestic and international economic news. Another strong weekly jobs
report suggested the U.S. economic recovery is picking up steam," said Erin
Lantz, director of Zillow Mortgage Marketplace. "Abroad, markets welcomed news
that many banks were planning to pay back the European Central Bank earlier
than expected, suggesting some underlying strength in a European economic
recovery."

If we continue to see the steady stream of strong economic indicators this
week, we anticipate rates will rise slightly higher," added Lantz.

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 2.71 percent, while the
rate for a 5-1 adjustable-rate mortgage (ARM) is 2.43 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
                             (01/29/13) (01/22/13)
California Mortgage Rates    3.41%      3.25%       +16
Colorado Mortgage Rates      3.49%      3.3%        +19
Florida Mortgage Rates       3.4%       3.28%       +12
Illinois Mortgage Rates      3.4%       3.29%       +11
Massachusetts Mortgage Rates 3.37%      3.31%       +6
New Jersey Mortgage Rates    3.38%      3.25%       +13
New York Mortgage Rates      3.43%      3.3%        +13
Pennsylvania Mortgage Rates  3.35%      3.25%       +10
Texas Mortgage Rates         3.48%      3.27%       +21
Washington Mortgage Rates    3.4%       3.25%       +15

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
http://www.globenewswire.com/newsroom/prs/?pkgid=10012

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

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