30-Year Fixed Mortgage Rates Fall; Current Rate is 3.70%, According to Zillow Mortgage Rate Ticker
March 03 2015 - 2:11PM
The 30-year fixed mortgage rate on Zillow® Mortgages is currently
3.70 percent, down six basis points from this time last week. The
30-year fixed mortgage rate fell early in the week, then hovered
around 3.66 percent before rising to the current rate on Tuesday.
"Rates dropped dramatically early last week after Fed Chair
Janet Yellen suggested it was unlikely the Fed would raise rates
before June," said Erin Lantz, vice president of mortgages at
Zillow. "This week we expect rates to remain fairly steady, unless
Friday's jobs report comes in stronger than expected."
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 2.88
percent, while the rate for a 5-1 adjustable-rate mortgage (ARM) is
2.85 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 |
Current 30-Year Fixed Rate
(03/03/15) |
Last Week's 30-Year Fixed
Rate (02/24/15) |
Change in Basis
Points |
California Mortgage Rates |
3.72% |
3.74% |
-2 |
Colorado Mortgage Rates |
3.65% |
3.77% |
-12 |
Florida Mortgage Rates |
3.70% |
3.76% |
-6 |
Illinois Mortgage Rates |
3.70% |
3.75% |
-5 |
Massachusetts Mortgage Rates |
3.70% |
3.75% |
-5 |
New Jersey Mortgage Rates |
3.74% |
3.78% |
-4 |
New York Mortgage Rates |
3.71% |
3.82% |
-11 |
Pennsylvania Mortgage Rates |
3.69% |
3.73% |
-4 |
Texas Mortgage Rates |
3.69% |
3.77% |
-8 |
Washington Mortgage Rates |
3.69% |
3.79% |
-10 |
About Zillow Mortgages
Zillow 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.
The Zillow logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=28924
Zillow is a registered trademark of Zillow, Inc.
CONTACT: Media Contact:
Alison Paoli, Zillow
206-757-2701 or press@zillow.com
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