RISMEDIA, April 15, 2009-The weekly average rate borrowers were quoted on Zillow Mortgage Marketplace for 30-year mortgages remained relatively flat during the past week. Last week’s rate was 5.10%, up slightly from 5.08% the week prior, according to the Zillow Mortgage Rate Monitor, compiled by real estate website Zillow.com®. Meanwhile, rates for 15-year fixed mortgages decreased to 4.73%, down from 4.77% and 5-1 adjustable rate mortgages also decreased, down to 4.65% from 4.71% the week prior.
Average Rate Average Rate
Mortgage Type Week ending 4/12/09 Week ending 4/05/09 % Change
30-year fixed 5.10% 5.08% 0.4%
15-year fixed 4.73% 4.77% -0.8%
5-1 ARM 4.65% 4.71% -1.3%
Rates for 30-year fixed purchase mortgages fell, with the average rate on Zillow Mortgage Marketplace at 5.02%, while 30-year fixed mortgage rates varied by state.
Average 30-yr. Average 30-yr.
Fixed Rate Fixed Rate
State Week ending 4/12/09 Week ending 4/05/09 % Change
Arizona 5.09% 5.07% 0.4%
California 5.10% 5.07% 0.6%
Colorado 5.06% 5.06% 0.0%
Connecticut 5.10% 5.09% 0.2%
Florida 5.06% 5.04% 0.4%
Georgia 5.00% 4.96% 0.8%
Illinois 5.14% 5.12% 0.4%
Maryland 5.17% 5.16% 0.2%
Massachusetts 5.15% 5.10% 1.0%
Michigan 5.10% 5.09% 0.2%
Minnesota 5.10% 5.06% 0.8%
New Jersey 5.12% 5.08% 0.8%
New York 5.14% 5.14% 0.0%
North Carolina 5.11% 5.09% 0.4%
Ohio 5.22% 5.20% 0.4%
Oregon 5.11% 5.10% 0.2%
Pennsylvania 5.09% 5.05% 0.8%
Texas 5.05% 5.02% 0.6%
Virginia 5.11% 5.09% 0.4%
Washington 5.08% 5.10% -0.4%
For more information, visit http://www.zillow.com/.
