30-Year Fixed Mortgage Rates Fall Slightly; Rate Was 3.74% on Monday, According to Zillow Mortgage Rate Ticker
06 January 2016 - 6:00AM
The 30-year fixed mortgage rate on Zillow® Mortgages was 3.74
percent according to the latest data released on Mondayi, down
seven basis points from the same time last week. The 30-year fixed
mortgage fell to 3.82 percent on Wednesday, then hovered there
before dropping to the current rate on Monday.
“Mortgage rates fell early this week as financial markets
returned from the New Year’s holiday to a collapse in Asian
equities, which pushed capital flows to safe assets including US
mortgage bonds,” said Erin Lantz, vice president of mortgages at
Zillow. “We expect continued volatility this week leading up to
Wednesday’s publication of the December Federal Open Market
Committee meeting minutes and Friday’s all-important jobs
report.”
Zillow’s real-time mortgage rates are
based on thousands of custom mortgage quotes submitted daily to
anonymous borrowers on the Zillow Mortgages 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 2.96
percent, while the rate for a 5-1 adjustable-rate mortgage (ARM) is
2.97 percent.
Below are current rates for 30-year fixed mortgages by state.
Additional states’ rates are available at:
http://www.zillow.com/mortgage-rates.
State |
30-Year Fixed Rate (1/4/16) |
Last Week’s 30-Year Fixed Rate
(12/29/15) |
Change in Basis Points |
California Mortgage Rates |
|
3.74 |
% |
|
3.80 |
% |
-6 |
Colorado Mortgage Rates |
|
3.74 |
% |
|
3.82 |
% |
-8 |
Florida Mortgage Rates |
|
3.77 |
% |
|
3.83 |
% |
-6 |
Illinois Mortgage Rates |
|
3.77 |
% |
|
3.86 |
% |
-9 |
Massachusetts Mortgage Rates |
|
3.76 |
% |
|
3.84 |
% |
-8 |
New Jersey Mortgage Rates |
|
3.74 |
% |
|
3.81 |
% |
-7 |
New York Mortgage Rates |
|
3.79 |
% |
|
3.93 |
% |
-14 |
Pennsylvania Mortgage Rates |
|
3.74 |
% |
|
3.80 |
% |
-6 |
Texas Mortgage Rates |
|
3.75 |
% |
|
3.82 |
% |
-7 |
Washington Mortgage Rates |
|
3.77 |
% |
|
3.83 |
% |
-6 |
|
|
|
|
About Zillow MortgagesZillow Mortgages,
operated by Zillow, Inc., 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 Mortgages also provides mortgage calculators,
mortgage advice, mortgage widgets, and lender
directories.
Zillow is a registered trademark of Zillow, Inc.
i Due to a data outage, rates from Tuesday, January 5th
were excluded from this release.
Media Contact:
Catharine Neilson, Zillow
press@zillow.com
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