RISMEDIA, September 3, 2009—The weekly average rate borrowers were quoted on Zillow Mortgage Marketplace for 30-year fixed mortgages decreased last week to 5.17%, down from 5.19% the week prior, according to the Zillow Mortgage Rate Monitor, compiled by real estate website Zillow.com. Rates for 15-year fixed mortgages fell to 4.57% from 4.59%, and 5-1 adjustable rate mortgages remained flat at 4.17%.
Mortgage Type Average Rate Average Rate
Week ending 8/30/09 Week ending 8/23/09 % Change
30-year fixed 5.17% 5.19% -0.4%
15-year fixed 4.57% 4.59% -0.4%
5-1 ARM 4.17% 4.17% 0.0%
Rates for 30-year fixed purchase mortgages decreased further, with the average rate on Zillow Mortgage Marketplace at 5.04%. Thirty-year fixed mortgage rates varied by state. Maryland mortgage rates and Florida mortgage rates decreased the most, from 5.33% to 5.24% in Maryland and from 5.17% to 5.12% in Florida. Illinois mortgage rates (5.32%), Michigan mortgage rates (5.28%), New York mortgage rates (5.28%) and Ohio mortgage rates (5.28%) were the highest in the country, while Georgia mortgage rates (5.11%), Florida mortgage rates (5. 12%) and California mortgage rates (5.12%) were the lowest.
For more information, visit www.zillow.com.
Copyright© 2015 RISMedia, The Leader in Real Estate Information Systems and Real Estate News. All Rights Reserved. This material may not be republished without permission from RISMedia.
Content on this website is copyrighted and may not be redistributed without express written permission from RISMedia. Access to RISMedia archives and thousands of articles like this, as well as consumer real estate videos, are available through RISMedia's REsource Licensed Content Solutions. Offering the industry’s most comprehensive and affordable content packages. Click here to learn more! http://resource.rismedia.com