10 a.m. Pacific--SEATTLE--The 30-year fixed mortgage rate on Zillow Mortgage Marketplace is currently 4.14 percent, down five basis points from 4.19 percent at this same time last week. The 30-year fixed mortgage rate hit a record low of 4.03 percent on Friday, but quickly rose and hovered near 4.18 percent for the remainder of the weekend before falling to the current rate. Prior to today, the lowest rate recorded on Zillow Mortgage Marketplace, which launched in 2008, was 4.07 percent on Nov. 9, 2010.
Rates have fallen despite yesterday’s downgrade of Fannie Mae’s and Freddie Mac’s debt by Standard & Poor’s.
“Given the mental association of credit ratings with bond rates, many people initially think about the impact of the downgrade on mortgage rates,” said Zillow Chief Economist Dr. Stan Humphries. “But that’s probably not where the initial damage will be felt. In fact, near-term, expect almost zero impact on mortgage rates.”
Zillow’s real-time mortgage rates are based on thousands of custom mortgage quotes submitted daily to anonymous borrowers through the 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 3.38 percent, while the rate for a 5-1 adjustable-rate mortgage (ARM) is 2.84 percent.
Below are current rates for 30-year fixed mortgages by state. Additional states’ rates are available at: www.zillow.com/Mortgage_Rates.
California Mortgage Rates
Current 30-Year Fixed Rate (08/09/11):4.14%
Last week’s 30-Year Fixed Rate (08/02/11):4.22%
Change in Basis Points: -8
Colorado Mortgage Rates
Current 30-Year Fixed Rate (08/09/11):4.11%
Last week’s 30-Year Fixed Rate (08/02/11):4.27%
Change in Basis Points: -16
Florida Mortgage Rates
Current 30-Year Fixed Rate (08/09/11):4.15%
Last week’s 30-Year Fixed Rate (08/02/11):4.2%
Change in Basis Points: -5
Illinois Mortgage Rates
Current 30-Year Fixed Rate (08/09/11):4.2%
Last week’s 30-Year Fixed Rate (08/02/11):4.27%
Change in Basis Points: -7
Massachusetts Mortgage Rates
Current 30-Year Fixed Rate (08/09/11):4.14%
Last week’s 30-Year Fixed Rate (08/02/11):4.27%
Change in Basis Points: -13
New Jersey Mortgage Rates
Current 30-Year Fixed Rate (08/09/11):4.19%
Last week’s 30-Year Fixed Rate (08/02/11):4.23%
Change in Basis Points: -4
New York Mortgage Rates
Current 30-Year Fixed Rate (08/09/11):4.12%
Last week’s 30-Year Fixed Rate (08/02/11):4.28%
Change in Basis Points: -16
Pennsylvania Mortgage Rates
Current 30-Year Fixed Rate (08/0/11):4.12%
Last week’s 30-Year Fixed Rate (08/02/11):4.2%
Change in Basis Points: -8
Texas Mortgage Rates
Current 30-Year Fixed Rate (08/09/11):4.04%
Last week’s 30-Year Fixed Rate (08/02/11):4.19%
Change in Basis Points: -15
Washington Mortgage Rates
Current 30-Year Fixed Rate (08/09/11):4.18%
Last week’s 30-Year Fixed Rate (08/02/11):4.26%
Change in Basis Points: -8
About 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.
Zillow is a registered trademark of Zillow, Inc.
Rates have fallen despite yesterday’s downgrade of Fannie Mae’s and Freddie Mac’s debt by Standard & Poor’s.
“Given the mental association of credit ratings with bond rates, many people initially think about the impact of the downgrade on mortgage rates,” said Zillow Chief Economist Dr. Stan Humphries. “But that’s probably not where the initial damage will be felt. In fact, near-term, expect almost zero impact on mortgage rates.”
Zillow’s real-time mortgage rates are based on thousands of custom mortgage quotes submitted daily to anonymous borrowers through the 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 3.38 percent, while the rate for a 5-1 adjustable-rate mortgage (ARM) is 2.84 percent.
Below are current rates for 30-year fixed mortgages by state. Additional states’ rates are available at: www.zillow.com/Mortgage_Rates.
California Mortgage Rates
Current 30-Year Fixed Rate (08/09/11):4.14%
Last week’s 30-Year Fixed Rate (08/02/11):4.22%
Change in Basis Points: -8
Colorado Mortgage Rates
Current 30-Year Fixed Rate (08/09/11):4.11%
Last week’s 30-Year Fixed Rate (08/02/11):4.27%
Change in Basis Points: -16
Florida Mortgage Rates
Current 30-Year Fixed Rate (08/09/11):4.15%
Last week’s 30-Year Fixed Rate (08/02/11):4.2%
Change in Basis Points: -5
Illinois Mortgage Rates
Current 30-Year Fixed Rate (08/09/11):4.2%
Last week’s 30-Year Fixed Rate (08/02/11):4.27%
Change in Basis Points: -7
Massachusetts Mortgage Rates
Current 30-Year Fixed Rate (08/09/11):4.14%
Last week’s 30-Year Fixed Rate (08/02/11):4.27%
Change in Basis Points: -13
New Jersey Mortgage Rates
Current 30-Year Fixed Rate (08/09/11):4.19%
Last week’s 30-Year Fixed Rate (08/02/11):4.23%
Change in Basis Points: -4
New York Mortgage Rates
Current 30-Year Fixed Rate (08/09/11):4.12%
Last week’s 30-Year Fixed Rate (08/02/11):4.28%
Change in Basis Points: -16
Pennsylvania Mortgage Rates
Current 30-Year Fixed Rate (08/0/11):4.12%
Last week’s 30-Year Fixed Rate (08/02/11):4.2%
Change in Basis Points: -8
Texas Mortgage Rates
Current 30-Year Fixed Rate (08/09/11):4.04%
Last week’s 30-Year Fixed Rate (08/02/11):4.19%
Change in Basis Points: -15
Washington Mortgage Rates
Current 30-Year Fixed Rate (08/09/11):4.18%
Last week’s 30-Year Fixed Rate (08/02/11):4.26%
Change in Basis Points: -8
About 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.
Zillow is a registered trademark of Zillow, Inc.