Zillow: 30-Year Fixed Mortgage Rate Rises
The weekly average rate borrowers were quoted on Zillow Mortgage Marketplace for 30-year fixed mortgages increased five basis points last week to 4.77 percent, up from 4.72 percent the week prior, according to the Zillow Mortgage Rate Monitor, compiled by leading real estate Web site Zillow.com®.
Rates for 15-year fixed mortgages rose three basis points to 4.24 percent from 4.21 percent, and 5-1 adjustable rate mortgages increased four basis points to 3.85 percent, from 3.81 percent the week prior.
The volume of mortgage requests last week fell 16 percent from the prior week. Of last week’s requests, 42 percent were for refinance loans, 55 percent were for purchase loans and 2 percent were for home equity loans.
The prior week, 45 percent of requests were for refinance loans, 53 percent were for purchase loans and 2 percent were for home equity loans.
Mortgage Type Average Rate Average Rate Change in
Week ending 12/20/09 Week ending 12/13/09 Basis Points
-------------------- -------------------- ------------
30-year fixed 4.77% 4.72% +5
15-year fixed 4.24% 4.21% +3
5-1 ARM 3.85% 3.81% +4
Average 30-yr. Fixed Average 30-yr. Fixed
State Rate Rate Change in
Week ending 12/20/09 Week ending 12/13/09 Basis Points
-------------------- -------------------- ------------
Arizona 4.90% 4.83% +7
California 4.72% 4.69% +3
Colorado 4.69% 4.68% +1
Connecticut 4.90% 4.80% +10
Florida 4.73% 4.69% +4
Georgia 4.81% 4.76% +5
Illinois 4.95% 4.90% +5
Maryland 4.85% 4.80% +5
Massachusetts 4.81% 4.78% +3
Minnesota 4.78% 4.71% +7
Missouri 4.84% 4.81% +3
New Jersey 4.82% 4.76% +6
New York 4.96% 4.91% +5
North Carolina 4.84% 4.78% +6
Oregon 4.73% 4.72% +1
Pennsylvania 4.84% 4.81% +3
Texas 4.74% 4.64% +10
Utah 4.76% 4.72% +4
Virginia 4.82% 4.74% +8
Washington 4.78% 4.73% +5
The Zillow Mortgage Rate Monitor is compiled each week using thousands of mortgage rates for conforming loans quoted on Zillow Mortgage Marketplace by mortgage lenders to borrowers who have submitted loan requests. State-level data is gathered for the top 20 states with the highest quote volume on Zillow. Learn more about our rates.
Zillow Mortgage Marketplace
Zillow Mortgage Marketplace 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.
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