National 30-Year Fixed Mortgage Rate Falls Back Under 5%

January 18, 2010

The weekly average rate borrowers were quoted on Zillow Mortgage Marketplace for 30-year fixed mortgages decreased six basis points last week to 4.99%, down from 5.05% the week prior, according to the Zillow Mortgage Rate Monitor, compiled by real estate website Zillow.com. Rates for 15-year fixed mortgages fell seven basis points to 4.41% from 4.48%, and 5-1 adjustable rate mortgages fell nine basis points to 4.06%, from 4.15 percent the week prior.

The volume of mortgage requests last week rose 18% from the prior week. Of last week’s requests, 31% were for refinance loans, 66% were for purchase loans and 2% were for home equity loans. The prior week, 32% of requests were for refinance loans, 65% were for purchase loans and 2% were for home equity loans.

Rates for 30-year fixed purchase mortgages had fallen slightly, with the average rate on Zillow Mortgage Marketplace at 4.97%. Thirty-year fixed mortgage rates varied by state. New York mortgage rates and Connecticut mortgage rates decreased the most, from 5.26% to 5.11% in New York and from 5.19% to 5.08% in Connecticut. South Carolina mortgage rates (5.13%) and New York mortgage rates (5.11%) were the highest in the country, while Colorado mortgage rates (4.92%) and Texas mortgage rates (4.93%) were the lowest. California mortgage rates were the most requested among all states.

For more information, visit www.Zillow.com.

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Written by djumper · Filed Under Real Estate Blog 

30-Year Fixed Mortgage Rate Increases for First Time Since Mid October

December 10, 2009

The weekly average rate borrowers were quoted on Zillow Mortgage Marketplace for 30-year fixed mortgages increased five basis points last week to 4.67%, up from 4.62% the week prior, according to the Zillow Mortgage Rate Monitor, compiled by real estate website Zillow.com. Rates for 15-year fixed mortgages rose one basis point to 4.20% from 4.19%, while 5-1 adjustable rate mortgages remained flat at 3.74%.

The volume of mortgage requests last week rose 10% from the prior week. Of last week’s requests, 51% were for refinance loans, 48% were for purchase loans and 2% were for home equity loans. The prior week, 49% of requests were for refinance loans, 49% were for purchase loans and 2% were for home equity loans.dollar

Rates for 30-year fixed purchase mortgages were higher, with the average rate on Zillow Mortgage Marketplace at 4.74%. Thirty-year fixed mortgage rates varied by state. Ohio mortgage rates and Michigan mortgage rates increased the most, from 4.63% to 4.78% in Ohio and from 4.6% to 4.72% in Michigan. New York mortgage rates (4.81%) and Illinois mortgage rates (4.81%) were the highest in the country, while Texas mortgage rates (4.58%), Colorado mortgage rates (4.63%) and Minnesota mortgage rates (4.63%) were the lowest. California mortgage rates were the most requested among all states.

For more information, visit www.zillow.com.

Read more: http://rismedia.com/2009-12-09/30-year-fixed-mortgage-rate-increases-for-first-time-since-mid-october/#ixzz0ZIwZNGUH

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Written by djumper · Filed Under Real Estate Blog 

30-Year Fixed Mortgage Rate Continues Rapid Fall

December 2, 2009

The weekly average rate borrowers were quoted on Zillow Mortgage Marketplace for 30-year fixed mortgages decreased seven basis points last week to 4.62%, down from 4.69% the week prior, according to the Zillow Mortgage Rate Monitor, compiled by real estate website Zillow.com. Rates for 15-year fixed mortgages fell four basis points to 4.19% from 4.23%, while 5-1 adjustable rate mortgages increased five basis points to 3.74%, from 3.69% the week prior.Mortgage

The volume of mortgage requests last week fell 17% from the prior week. Of last week’s requests, 49% were for refinance loans, 49% were for purchase loans and 2% were for home equity loans. There was no change in the mortgage type mix from the prior week.

Rates for 30-year fixed purchase mortgages fell further, with the average rate on Zillow Mortgage Marketplace at 4.52%. Thirty-year fixed mortgage rates varied by state. Ohio mortgage rates and North Carolina mortgage rates decreased the most, from 4.79% to 4.63% in Ohio and from 4.72% to 4.60% in North Carolina. New York mortgage rates (4.79%), Missouri mortgage rates (4.72%) and Illinois mortgage rates (4.72%) were the highest in the country, while Texas mortgage rates (4.52%) and Colorado mortgage rates (4.54%) were the lowest. California mortgage rates were the most requested among all states.

For more information, visit www.Zillow.com.

Read more: http://rismedia.com/2009-12-01/30-year-fixed-mortgage-rate-continues-rapid-fall/#ixzz0YXuRnsUH

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Written by djumper · Filed Under Real Estate Blog 

30-Year Fixed Mortgage Rates Stay Relatively Steady

November 4, 2009

The weekly average rate borrowers were quoted on Zillow Mortgage Marketplace for 30-year fixed mortgages decreased one basis point last week to 4.86%, down from 4.87% the week prior, according to the Zillow Mortgage Rate Monitor, compiled by real estate website Zillow.com. Rates for 15-year fixed mortgages fell one basis point to 4.31% from 4.32%, and 5-1 adjustable rate mortgages fell one basis point to 3.79%, from 3.80% the week prior.

The volume of mortgage requests last week fell 9.5% from the prior week. Of last week’s requests, 43% were for refinance loans, 54% were for purchase loans and 2% were for home equity loans. The prior week, 45% of requests were for refinance loans, 53% were for purchase loans and 2% were for home equity loans.Mortgage

Rates for 30-year fixed purchase mortgages fell, with the average rate on Zillow Mortgage Marketplace at 4.79%. Thirty-year fixed mortgage rates varied by state. Texas mortgage rates and Connecticut mortgage rates decreased the most, from 4.84% to 4.81% in Texas and from 4.96% to 4.94% in Connecticut. New York mortgage rates (5.03%) and New Jersey mortgage rates (5.06%) were the highest in the country, while Texas mortgage rates (4.81%), and California mortgage rates (4.83%) were the lowest.

For more information, visit www.Zillow.com.
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Written by djumper · Filed Under Real Estate Blog 

Thirty Year Fixed Mortgage Rates Continue to Decline

October 30, 2009

The weekly average rate borrowers were quoted on Zillow Mortgage Marketplace for 30-year fixed mortgages decreased ten basis points last week to 4.87%, down from 4.97% the week prior, according to the Zillow Mortgage Rate Monitor, compiled by real estate website ZIllow.com. Rates for 15-year fixed mortgages fell six basis point to 4.32% from 4.38%, and 5-1 adjustable rate mortgages fell seven basis points to 3.80%, from 3.87% the week prior.

The volume of mortgage requests last week fell 9.6% from the prior week. Of last week’s requests, 45% were for refinance loans, 53% were for purchase loans and 2% were for home equity loans. The prior week, 47% of requests were for refinance loans, 51% were for purchase loans and 2% were for home equity loans.Mortgage1

Rates for 30-year fixed purchase mortgages rose, with the average rate on Zillow Mortgage Marketplace at 4.92%. Thirty-year fixed mortgage rates varied by state. Missouri mortgage rates, and Illinois mortgage rates decreased the most, from 5.17% to 4.93% in Missouri and from 5.13% to 4.91% in Illinois. New York mortgage rates (5.03%) and Connecticut mortgage rates (4.96%) were the highest in the country, while Oregon mortgage rates (4.83%), Washington mortgage rates (4.84%), California mortgage rates (4.84%) and Texas mortgage rates (4.84%) were the lowest.

For more information, visit www.Zillow.com.

Source: RISMedia

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Written by djumper · Filed Under Real Estate Blog 

30-Year Fixed Mortgage Rates Increase Slightly

October 21, 2009

The weekly average rate borrowers were quoted on Zillow Mortgage Marketplace for 30-year fixed mortgages increased two basis points last week to 4.97%, up from 4.95% the week prior, according to the Zillow Mortgage Rate Monitor, compiled by real estate website Zillow.com. Rates for 15-year fixed mortgages rose one basis point to 4.38% from 4.37%, and 5-1 adjustable rate mortgages rose four basis points to 3.87%, up from 3.83% the week prior.

The volume of mortgage requests last week fell 9.9% from the prior week. Of last week’s requests, 47.1% were for refinance loans, 50.8% were for purchase loans and 2.1% were for home equity loans. The prior week, 52.4% of requests were for refinance loans, 45.6% were for purchase loans and 2% were for home equity loans.Mortgage1

Rates for 30-year fixed purchase mortgages dropped significantly, with the average rate on Zillow Mortgage Marketplace at 4.83%. Thirty-year fixed mortgage rates varied by state. Ohio mortgage rates, Connecticut mortgage rates, and Georgia mortgage rates increased the most, from 5.06% to 5.16% in Ohio, from 4.98% to 5.05% in Connecticut, and from 4.91% to 4.98% in Georgia. Ohio mortgage rates (5.16%) and New York mortgage rates (5.15%) were the highest in the country, while California mortgage rates (4.91%), Virginia mortgage rates (4.92%) and Texas mortgage rates (4.92%) were the lowest.

For more information, visit www.Zillow.com.

Read more: http://rismedia.com/2009-10-20/30-year-fixed-mortgage-rates-increase-slightly-u-s-rate-still-hovers-below-5-00/#ixzz0UW95IWUH

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Written by djumper · Filed Under Real Estate Blog 

National 30-Year Fixed Mortgage Rate Falls Below 5%; Half of Borrowers Request Refinance Loans

October 6, 2009

The weekly average rate borrowers were quoted on Zillow Mortgage Marketplace for 30-year fixed mortgages decreased last week to 4.96%, down from 5.02% the week prior, according to the Zillow Mortgage Rate Monitor, compiled by real estate website Zillow.com. Rates for 15-year fixed mortgages fell to 4.39% from 4.42%, and 5-1 adjustable rate mortgages fell to 3.85%, down from 3.94% the week prior.

The volume of mortgage requests increased significantly last week from 10,963 to 13,081. Of this week’s requests, 50.2% were for refinance loans, 47.7% were for purchase loans and 2.1% were for home equity loans. Last week, 43.7% of requests were for refinance loans, 54.1% were for purchase loans and 2.2% were for home equity loans.

Average Rate                      Average Rate
Mortgage Type   Week ending 10/4/09       Week ending 9/27/09       % Change
30-year fixed                    4.96%                                      5.02%                        -1.2%
15-year fixed                     4.39%                                      4.42%                        -0.7%
5-1 ARM                            3.85%                                      3.94%                        -2.3%

Rates for 30-year fixed purchase mortgages decreased further, with the average rate on Zillow Mortgage Marketplace at 4.94%. Thirty-year fixed mortgage rates varied by state. Oregon mortgage rates and Ohio mortgage rates decreased the most, from 5.10% to 4.97% in Oregon and from 5.13% to 5.03% in Ohio. Illinois mortgage rates (5.16%), Maryland mortgage rates (5.10%) and New York mortgage rates (5.10%) were the highest in the country, while Texas mortgage rates (4.88%) and California mortgage rates (4.89%) were the lowest.dollar

For more information, visit www.Zillow.com.

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Written by djumper · Filed Under Real Estate Blog