The weekly average rate borrowers were quoted on Zillow Mortgage Marketplace for thirty-year mortgages remained relatively steady last week. Last week’s rate was 5.07%, up slightly from 5.06% the week prior, according to the Zillow Mortgage Rate Monitor, compiled by real estate website Zillow.com®. Meanwhile, rates for 15-year fixed mortgages rose to 4.72%, up from 4.68% and 5-1 adjustable rate mortgages decreased substantially, down to 4.38% from 4.47% the week prior.
Mortgage Type Average Rate Average Rate % Change
Week ending Week ending
4/26/09 4/19/09
30-year fixed 5.07% 5.06% 0.2%
15-year fixed 4.72% 4.68% 0.7%
5-1 ARM 4.38% 4.47% -2.2%
Rates for 30-year fixed purchase mortgages fell even further, with the average rate on Zillow Mortgage Marketplace at 4.97%.
Thirty-year fixed mortgage rates varied by state. New Jersey mortgage rates and Pennsylvania mortgage rates increased the most, up from 5.05% to 5.09% in New Jersey, and from 5.03% to 5.07% in Pennsylvania. Georgia mortgage rates (4.99%) and Florida mortgage rates (5.01%) were the lowest in the country, while Ohio mortgage rates (5.17%) were the highest. California mortgage rates were the most requested among all states. Source: RISmedia.com
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