30-Year Fixed Mortgage Rates Hold Near 3-Year Lows; Current Rate is 3.41%, According to Zillow Mortgage Rate Ticker
May 10 2016 - 2:00PM
The 30-year fixed mortgage rate on Zillow® Mortgages is currently
3.41 percent, down 3 basis points from this time last week. The
30-year fixed mortgage fell throughout the week, dipping below 3.40
percent before rising to the current rate.
“Mortgage rates fell for the second week in a row and are now
back near three-year lows due to the combination of investor fears
after weak European financial sector earnings and a relatively weak
jobs report last Friday,” said Erin Lantz, vice president of
mortgages at Zillow. “Several Fed speeches are likely to drive
rates this week, although markets will also keep an eye on oil
markets.”
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 2.66
percent, while the rate for a 5-1 adjustable-rate mortgage (ARM) is
2.67 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 |
Current30-Year Fixed Rate
(5/10/16) |
Last Week’s 30-Year Fixed Rate
(5/3/16) |
Change in Basis Points |
|
|
California Mortgage Rates |
|
3.43 |
% |
|
3.45 |
% |
-2 |
|
|
Colorado Mortgage Rates |
|
3.39 |
% |
|
3.45 |
% |
-6 |
|
|
Florida Mortgage Rates |
|
3.39 |
% |
|
3.43 |
% |
-4 |
|
|
Illinois Mortgage Rates |
|
3.41 |
% |
|
3.46 |
% |
-5 |
|
|
Massachusetts Mortgage Rates |
|
3.42 |
% |
|
3.50 |
% |
-8 |
|
|
New Jersey Mortgage Rates |
|
3.41 |
% |
|
3.43 |
% |
-2 |
|
|
New York Mortgage Rates |
|
3.46 |
% |
|
3.47 |
% |
-1 |
|
|
Pennsylvania Mortgage Rates |
|
3.40 |
% |
|
3.47 |
% |
-7 |
|
|
Texas Mortgage Rates |
|
3.40 |
% |
|
3.45 |
% |
-5 |
|
|
Washington Mortgage Rates |
|
3.39 |
% |
|
3.44 |
% |
-5 |
|
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.
Media Contact:
Catharine Neilson, Zillow
press@zillow.com
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