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SEATTLE, Feb. 07, 2017 -- The 30-year fixed mortgage rate on Zillow® Mortgages is currently 3.93 percent, down 4 basis points from this time last week. The 30-year fixed mortgage rate was volatile last week, moving between 4 percent and 3.92 percent throughout the week, and fell back to the current rate on Monday.
“Mortgage rates were particularly volatile toward the end of last week,” said Erin Lantz, vice president of mortgages at Zillow. “They dropped Friday after the monthly jobs report showed slower than expected wage growth, but then recovered after a Fed official spoke about plans to end the Bank’s bond-buying program which has helped keep rates lower while in place. Rates fell again early this week as investors sought safe haven from European political risk surrounding the French election. With little economic news on the schedule this week, political news is likely to continue driving rates.”
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 3.13 percent, while the rate for a 5-1 adjustable-rate mortgage (ARM) is 2.99 percent.
Below are current rates for 30-year fixed mortgages by state. Additional states’ rates are available at: http://www.zillow.com/mortgage-rates.
| State | Current 30-Year Fixed Rate (2/7/17) | Last Week’s 30-Year Fixed Rate (1/31/17) | Change in Basis Points | ||||
| California Mortgage Rates | 3.93 | % | 3.97 | % | -4 | ||
| Colorado Mortgage Rates | 3.89 | % | 3.90 | % | -1 | ||
| Florida Mortgage Rates | 3.92 | % | 3.96 | % | -4 | ||
| Illinois Mortgage Rates | 3.98 | % | 3.99 | % | -1 | ||
| Massachusetts Mortgage Rates | 3.90 | % | 3.93 | % | -3 | ||
| New Jersey Mortgage Rates | 3.91 | % | 3.97 | % | -6 | ||
| New York Mortgage Rates | 4.00 | % | 4.11 | % | -11 | ||
| Pennsylvania Mortgage Rates | 3.91 | % | 3.95 | % | -4 | ||
| Texas Mortgage Rates | 3.94 | % | 3.99 | % | -5 | ||
| Washington Mortgage Rates | 3.92 | % | 3.95 | % | -3 | ||
About Zillow Mortgages
Zillow Mortgages, operated by Zillow, Inc., is a free, open, and transparent lending marketplace, where borrowers connect with lenders to find loans and get the best mortgage rates. Borrowers anonymously submit loan requests and receive an unlimited number of custom mortgage quotes with real rates directly from thousands of competing lenders. Zillow Mortgages also provides mortgage calculators, mortgage advice, mortgage widgets, and lender directories.
Zillow is a registered trademark of Zillow, Inc.
Media Contact: Catharine Neilson, Zillow [email protected]
