Zillow Mortgages Reports 5 bps W/W Increase in 30-Year Fixed Rate to 3.30%

August 9, 2016 2:27 PM EDT

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The 30-year fixed mortgage rate on Zillow Mortgages is currently 3.30 percent, up five basis points from this time last week. The 30-year fixed mortgage declined early last week, then rose Friday and hovered around the current rate for the rest of the week.

“Mortgage rates jumped by almost 10 basis points after last Friday’s strong jobs report and are now approaching three-week highs,” said Erin Lantz, vice president of mortgages at Zillow. “This week should be quieter with only a few relatively minor economic data releases on the horizon.”

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 2.58 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.

StateCurrent30-Year Fixed Rate (8/9/16)Last Week’s 30-Year Fixed Rate (8/2/16)Change in Basis Points
California Mortgage Rates 3.29% 3.22%+7
Colorado Mortgage Rates 3.27% 3.25%+2
Florida Mortgage Rates 3.26% 3.22%+4
Illinois Mortgage Rates 3.31% 3.25%+6
Massachusetts Mortgage Rates 3.31% 3.29%+2
New Jersey Mortgage Rates 3.29% 3.23%+6
New York Mortgage Rates 3.38% 3.35%+3
Pennsylvania Mortgage Rates 3.32% 3.26%+6
Texas Mortgage Rates 3.28% 3.23%+5
Washington Mortgage Rates 3.31% 3.27%+4

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