RISMEDIA, April 1, 2009-The weekly average rate borrowers were quoted on Zillow Mortgage Marketplace for 30-year mortgages remained relatively steady for the second consecutive week at 5.09%, 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 increased to 4.80%, up from 4.73% and 5-1 adjustable rate mortgages dropped, down to 4.66% from 4.69% the week prior.
Mortgage Type Average Rate Average Rate % ChangeWeek ending 3/29/09 Week ending 3/22/09
30-year fixed 5.09% 5.06% 0.6%15-year fixed 4.80% 4.73% 1.5%5-1 ARM 4.66% 4.69% -0.6%
Rates for 30-year fixed purchase mortgages had decreased slightly, with the average rate on Zillow Mortgage Marketplace at 4.99%.
Thirty-year fixed mortgage rates varied by state. Georgia mortgage rates, New Jersey mortgage rates and Pennsylvania mortgage rates increased the most, increasing from 4.92% to 4.99% in Georgia, from 5.05% to 5.12% in New Jersey and from 5.02% to 5.09% in Pennsylvania. Georgia mortgage rates (4.99%) and Texas mortgage rates (5.05%) were the lowest in the country while Ohio mortgage rates (5.24%) were the highest. California mortgage rates were the most requested among all states.
State Average 30-yr. Fixed Average 30-yr. Fixed % ChangeRate Week ending Rate Week ending3/29/09 3/22/09
Arizona 5.08% 5.06% 0.4%California 5.06% 5.02% 0.8%Colorado 5.09% 5.05% 0.8%Connecticut 5.10% 5.06% 0.8%Florida 5.06% 5.04% 0.4%Georgia 4.99% 4.92% 1.4%Illinois 5.16% 5.12% 0.8%Maryland 5.14% 5.11% 0.6%Massachusetts 5.08% 5.07% 0.2%Michigan 5.09% 5.09% 0.0%Minnesota 5.08% 5.02% 1.2%New Jersey 5.12% 5.05% 1.4%New York 5.15% 5.11% 0.8%North Carolina 5.10% 5.09% 0.2%Ohio 5.24% 5.20% 0.8%Oregon 5.12% 5.10% 0.4%Pennsylvania 5.09% 5.02% 1.4%Texas 5.05% 5.02% 0.6%Virginia 5.09% 5.07% 0.4%Washington 5.11% 5.06% 1.0%
For more information, visit http://www.zillow.com/.
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