Rates Highest in Northeast, According to Zillow(R) Mortgage Rate
Monitor
SEATTLE, Oct. 7 /PRNewswire/ -- Mortgage rates remained steady over the
past week, with rates for 30-year fixed mortgages increasing slightly to
5.97 percent, up from 5.96 percent the week prior, according to the Zillow
Mortgage Rate Monitor, compiled by leading real estate Web site
Zillow.com(R). Mortgage rates for 15-year fixed remained steady at 5.63
percent, and 5-1 adjustable rate mortgages saw the most dramatic increase,
rising to 5.75 percent.
(Logo: http://www.newscom.com/cgi-bin/prnh/20060503/ZILLOWLOGO)
Average Rate Average Rate
Mortgage Type Week ending 10/5/08 Week ending 9/28/08 % Change
30-year fixed 5.97% 5.96% 0.2%
15-year fixed 5.63% 5.63% -0.1%
5-1 ARM 5.75% 5.60% 2.7%
At a state level, the 30-year fixed rate mortgage rate in Virginia saw
the most significant increase from 5.91 percent to 5.99 percent. Rates on
30-year fixed mortgages were lowest in the states of Georgia (5.88%) and
Colorado (5.92%), while New York (6.10%), Connecticut (6.08%), Maryland
(6.02%) and Massachusetts (6.02%) had the highest rates.
Average 30-yr. Average 30-yr.
Fixed Rate Fixed Rate
State Week ending 10/5/08 Week ending 9/28/08 % Change
Arizona 5.94% 5.93% 0.1%
California 5.94% 5.92% 0.4%
Colorado 5.92% 5.91% 0.2%
Connecticut 6.08% 6.03% 0.9%
Florida 6.00% 5.96% 0.6%
Georgia 5.88% 5.90% -0.3%
Illinois 5.99% 6.00% -0.2%
Maryland 6.02% 6.04% -0.4%
Massachusetts 6.02% 6.04% -0.2%
Michigan 5.96% 5.99% -0.5%
Missouri 5.95% 5.99% -0.5%
New Jersey 5.99% 6.03% -0.6%
New York 6.10% 6.11% -0.1%
North Carolina 5.98% 5.91% 1.1%
Ohio 5.98% 5.96% 0.4%
Oregon 5.93% 5.98% -0.7%
Pennsylvania 6.00% 6.03% -0.5%
Texas 5.94% 5.94% -0.1%
Virginia 5.99% 5.91% 1.4%
Washington 6.00% 5.94% 1.0%
The Zillow Mortgage Rate Monitor is compiled each week using thousands
of mortgage rates quoted on Zillow Mortgage Marketplace
(http://www.zillow.com/mortgage) 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.
Zillow Mortgage Marketplace is an open and transparent lending
marketplace, providing borrowers an anonymous and hassle-free way to
receive an unlimited number of customized mortgage quotes directly from
confirmed lenders.
For more detailed rate charts and data, as well choices of mortgage
calculator, please visit http://www.zillow.com/mortgage.
About Zillow Mortgage Marketplace
Zillow Mortgage Marketplace is an online mortgage resource providing
borrowers with direct access to an unlimited number of personalized and
anonymous loan quotes from confirmed mortgage professionals, for free.
Zillow Mortgage Marketplace educates borrowers with tools such as mortgage
calculators, rate tables, and informational resources on obtaining a home
loan. In April 2008, Zillow Mortgage Marketplace launched in affiliation
with Zillow.com, one of the most visited U.S. real estate Web sites.
Zillow's goal is to help people become smarter about real estate in every
stage of the home ownership process -- buying, selling, remodeling and
financing. The company is headquartered in Seattle and has raised $87
million in funding.
Zillow.com and Zillow are registered trademarks of Zillow, Inc.
SOURCE Zillow.com
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Related links:
http://www.zillow.com
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AP Archive: http://photoarchive.ap.org
PRN Photo Desk, photodesk@prnewswire.com
CONTACT:
Katie Curnutte of Zillow.com,
+1-206-757-2785, press@zillow.com
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