The 30-year fixed mortgage rate on
Zillow® Mortgages is currently 3.58 percent, up three basis points from this
time last week. The 30-year fixed mortgage rate rose throughout the week
before dipping to the current rate on Tuesday.
"Rates inched up last week as new data suggested the U.S. economy is on
increasingly stable ground despite March's weak jobs report," said Erin Lantz,
vice president of mortgages at Zillow. "Mortgage markets remain extremely
sensitive to the ups and downs of economic news, but overall we expect the
trend of gradually rising rates to continue this week."
Zillow's real-time mortgage rates are based on thousands of custom mortgage
quotes submitted daily to anonymous borrowers on the Zillow Mortgages 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 2.87 percent, while the
rate for a 5-1 adjustable-rate mortgage (ARM) is 2.83 percent.
Purchase Mortgage Application Activity
Zillow predicts tomorrow's seasonally adjusted Mortgage Bankers Association
Weekly Application Index will show purchase loan activity decreased by 2
percent from the week prior. Zillow combines loan requests made on Zillow
Mortgages last week with the previous week's Mortgage Bankers Association
(MBA) Weekly Application Index to predict the MBA's Weekly Application Index
for purchase loans, which will be released tomorrow. For more information
about this prediction, visit
http://www.zillow.com/research/mortgage-app-index-part-one-7016/.
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
(04/14/15) (04/07/15)
California Mortgage Rates 3.69% 3.56% +13
Colorado Mortgage Rates 3.53% 3.52% +1
Florida Mortgage Rates 3.61% 3.57% +4
Illinois Mortgage Rates 3.54% 3.55% -1
Massachusetts Mortgage Rates 3.54% 3.56% -2
New Jersey Mortgage Rates 3.59% 3.58% +1
New York Mortgage Rates 3.62% 3.60% +2
Pennsylvania Mortgage Rates 3.53% 3.54% -1
Texas Mortgage Rates 3.54% 3.52% +2
Washington Mortgage Rates 3.57% 3.56% +1
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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