National 30-year Fixed Mortgage Rate Hovers Near 5.00%

RISMEDIA, September 23, 2009—The weekly average rate borrowers were quoted on Zillow Mortgage Marketplace for 30-year fixed mortgages was unchanged from last week at 5.04%, according to the Zillow Mortgage Rate Monitor, compiled by real estate website Zillow.com. Rates for 15-year fixed mortgages fell to 4.45% from 4.48%, and 5-1 adjustable rate mortgages fell to 4.00%, down from 4.02% the week prior.

Average Rate Average Rate
Mortgage Type Week ending 9/20/09 Week ending 9/13/09 % Change
30-year fixed 5.04% 5.04% 0.0%
15-year fixed 4.45% 4.48% -0.7%
5-1 ARM 4.00% 4.02% -0.5%

Rates for 30-year fixed purchase mortgages decreased, with the average rate on Zillow Mortgage Marketplace at 4.96%. Thirty-year fixed mortgage rates varied by state. Ohio mortgage rates and Wisconsin mortgage rates decreased the most, from 5.19% to 5.12% in Ohio and from 5.22% to 5.16% in Wisconsin. Illinois mortgage rates (5.22%) and Wisconsin mortgage rates (5.16%) were the highest in the country, while Texas mortgage rates (4.96%) and California mortgage rates (4.99%) were the lowest.