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Press release from GlobeNewswire (a Nasdaq OMX company)

30-Year Fixed Mortgage Rate Remains Fairly Flat; Current Rate is 3.26%, According to Zillow Mortgage Rate Ticker

Tuesday, November 06, 2012

30-Year Fixed Mortgage Rate Remains Fairly Flat; Current Rate is 3.26%, According to Zillow Mortgage Rate Ticker11:02 EST Tuesday, November 06, 2012SEATTLE, Nov. 6, 2012 (GLOBE NEWSWIRE) -- The 30-year fixed mortgage rate on Zillow® Mortgage Marketplace is currently 3.26 percent, up two basis points from 3.24 percent at this same time last week. The 30-year fixed mortgage rate hovered between 3.23 and 3.3 percent for the majority of the week, rising to the current rate this morning. "Despite a stronger-than-expected jobs report this past week, rates stayed fairly flat, largely because of a shortened trading week and other concerns in the aftermath of Hurricane Sandy that spurred continued safe-haven buying of mortgage-backed securities," said Erin Lantz, director of Zillow Mortgage Marketplace. "This coming week, domestic economic news will be limited due to the U.S. presidential election. However, headlines out of Greece could drive more rate volatility if the Greek government faces increasing opposition to the labor market reforms needed to receive International Monetary Fund and European Union bailout funds."Zillow's real-time mortgage rates are based on thousands of custom mortgage quotes submitted daily to anonymous borrowers on the Zillow Mortgage Marketplace 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 2.66 percent, while the rate for a 5-1 adjustable-rate mortgage (ARM) is 2.4 percent. Below are current rates for 30-year fixed mortgages by state. Additional states' rates are available at: http://www.zillow.com/mortgage-rates.StateCurrent 30-Year Fixed Rate (11/06/12)Last week's 30-Year Fixed Rate (10/30/12)Change in Basis Points California Mortgage Rates 3.26% 3.24% +2 Colorado Mortgage Rates 3.2% 3.22% -2 Florida Mortgage Rates 3.24% 3.19% +5 Illinois Mortgage Rates 3.22% 3.23% -1 Massachusetts Mortgage Rates 3.31% 3.28% +3 New Jersey Mortgage Rates 3.25% 3.35% -10 New York Mortgage Rates 3.15% 3.29% -14 Pennsylvania Mortgage Rates 3.22% 3.24% -2 Texas Mortgage Rates 3.25% 3.25% 0 Washington Mortgage Rates 3.29% 3.24% +5About Zillow Mortgage Marketplace Zillow Mortgage Marketplace, 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 Mortgage Marketplace also provides mortgage calculators, mortgage advice, mortgage widgets, and lender directories. Zillow is a registered trademark of Zillow, Inc. The Zillow logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=10012CONTACT: Jill Simmons, Zillow 206-757-2701 or press@zillow.com