Zillow Mortgages Reports 1 bps W/W Drop in 30-Year Fixed Rate to 3.30%

September 20, 2016 2:00 PM EDT

Get the Pulse of the Market with StreetInsider.com's Pulse Picks. Get your Free Trial here.

The 30-year fixed mortgage rate on Zillow® Mortgages is currently 3.30 percent, down 1 basis point from this time last week. The 30-year fixed mortgage hovered between 3.28 percent and 3.36 percent for most of the week before settling at the current rate.

“Mortgage rates were flat last week, holding near their highest levels since late July,” said Erin Lantz, vice president of mortgages at Zillow. “This week markets will focus on the Fed’s monetary policy decision on Wednesday, the tone of which will set expectations for rate hikes for the rest of 2016. While markets are betting against a rate hike this month, rates could jump if the language is more hawkish 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 2.54 percent, while the rate for a 5-1 adjustable-rate mortgage (ARM) is 2.61 percent.

Below are current rates for 30-year fixed mortgages by state. Additional states’ rates are available at: http://www.zillow.com/mortgage-rates.

StateCurrent30-Year Fixed Rate (9/20/16)Last Week’s 30-Year Fixed Rate (9/13/16)Change in Basis Points
California Mortgage Rates 3.31% 3.30%+1
Colorado Mortgage Rates 3.32% 3.29%+3
Florida Mortgage Rates 3.29% 3.31%-2
Illinois Mortgage Rates 3.31% 3.33%-2
Massachusetts Mortgage Rates 3.29% 3.32%-3
New Jersey Mortgage Rates 3.27% 3.33%-6
New York Mortgage Rates 3.34% 3.38%-4
Pennsylvania Mortgage Rates 3.31% 3.31%0
Texas Mortgage Rates 3.30% 3.30%0
Washington Mortgage Rates 3.32% 3.27%+5

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In

Related Categories

General News, Insiders' Blog

Add Your Comment