Zillow (Z) Reports New Record Low on 30-Year Mortgage Rates

December 4, 2012 2:15 PM EST
Zillow (Nasdaq: Z) reports that the 30-year fixed mortgage rate on its Zillow Mortgage Marketplace is currently 3.16 percent, down four basis points from 3.2 percent at this same time last week. This represents the lowest rate reported since Zillow Mortgage Marketplace launched in April 2008. The previous low was 3.18 percent, reported on Nov. 13. The 30-year fixed mortgage rate hovered between 3.15 and 3.2 percent for the majority of the week, dropping to the current rate this morning.

The rate for a 15-year fixed home loan is currently 2.59 percent, while the rate for a 5-1 adjustable-rate mortgage (ARM) is 2.35 percent.

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