30-Year Fixed Mortgage Rates Drop First Time in 6 Weeks; Current Rate is
3.88%, According to Zillow Mortgage Rate Ticker
SEATTLE, June 18, 2013 (GLOBE NEWSWIRE) -- The 30-year fixed mortgage rate on
Zillow® Mortgage Marketplace is currently 3.88 percent, down five basis points
from 3.93 percent at this time last week. The 30-year fixed mortgage rate
hovered between 3.94 and 3.84 percent for the majority of the week, dropping
down to as low as 3.79 percent on Friday.
"Rates dipped this week after rising for six consecutive weeks on anticipation
that the Fed may slow the pace of the quantitative easing stimulus program
early," said Erin Lantz, director of Zillow Mortgage Marketplace. "This coming
week, rate movements will be guided by Wednesday's press conference to discuss
the FOMC's latest meeting. If Chairman Ben Bernanke suggests the Fed is
considering accelerating the wind-down of the stimulus program, we expect
rates to continue to climb. If instead, Bernanke expresses renewed concerns
about the strength of the economic recovery and implies that a longer stimulus
period is needed, then rates may retreat closer to levels we saw through the
first four months of the year."
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 2.97 percent, while the
rate for a 5-1 adjustable-rate mortgage (ARM) is 2.63 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 Change in
State 30-Year 30-Year Basis
Fixed Rate Fixed Rate Points
California Mortgage Rates 3.88% 3.94% -6
Colorado Mortgage Rates 3.93% 3.96% -3
Florida Mortgage Rates 3.84% 3.96% -12
Illinois Mortgage Rates 3.90% 3.97% -7
Massachusetts Mortgage Rates 3.88% 3.96% -8
New Jersey Mortgage Rates 3.86% 3.90% -4
New York Mortgage Rates 3.89% 3.97% -8
Pennsylvania Mortgage Rates 3.86% 3.90% -4
Texas Mortgage Rates 3.87% 3.94% -7
Washington Mortgage Rates 3.92% 4.0% -8
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:
Alison Paoli, Zillow
206-757-2701 or email@example.com
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