In a press release issued on 12/9/08, “mortgage rates fell again last week, hitting as low as 5.10 percent last Friday, after the government’s decision to purchase mortgage-backed securities. The weekly average rates for 30-year fixed mortgages declined to 5.34 percent, down from 5.53 percent the week prior, according to the Zillow Mortgage Rate Monitor, compiled by leading real estate Web site Zillow.com®. Rates for 15-year fixed mortgages decreased to 5.16 percent, down from 5.34 percent and 5-1 adjustable rate mortgages fell to 5.93 percent from 6.01 percent. This was all according to the Zillow® Mortgage Rate Monitor.
Mortgage Type Average Rate Average Rate % Change Week ending 12/7/08 Week ending 11/30/08 30-year fixed 5.34% 5.53% -3.5% 15-year fixed 5.16% 5.34% -3.5% 5-1 ARM 5.93% 6.01% -1.4%
Rates for 30-year fixed mortgages remained fairly steady on Monday evening with the average rate on Zillow Mortgage Marketplace at 5.33 percent as stated by Zillow.com.
At a state level, the 30-year fixed mortgage rate in Ohio had the biggest decrease, falling from 5.62 percent to 5.25 percent. Rates on 30-year fixed mortgages were lowest in the states of Georgia (5.19%) and Ohio (5.25%), while New York (5.44%) and New Jersey (5.40%) had the highest rates.
Average 30-yr. Fixed Average 30-yr. Fixed Rate Rate % Change Week ending 12/7/08 Week ending 11/30/08 Georgia 5.19% 5.41% -4.1%
Thanks again. Just added your RSS feed for press releases to my blog and subscribed to email notification on rates. You guys got some awesome tools.