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Press release from GlobeNewswire (a Nasdaq OMX company)

30-Year Fixed Mortgage Rates Dip Slightly; Current Rate is 3.26%, According to Zillow Mortgage Rate Ticker

Tuesday, January 15, 2013

30-Year Fixed Mortgage Rates Dip Slightly; Current Rate is 3.26%, According to Zillow Mortgage Rate Ticker11:00 EST Tuesday, January 15, 2013SEATTLE, Jan. 15, 2013 (GLOBE NEWSWIRE) -- The 30-year fixed mortgage rate on Zillow® Mortgage Marketplace is currently 3.26 percent, down seven basis points from 3.33 at this same time last week. After peaking at 3.35 percent on Wednesday, the 30-year fixed rate hovered between 3.28 and 3.33 percent over the remainder of the week before dropping to the current rate this morning. "Rates are down slightly from last week's 16-week high as optimism about an improving economy began to wane after successful fiscal cliff negotiations," said Erin Lantz, director of Zillow Mortgage Marketplace. "Although there is a fair amount of economic news scheduled this week, we don't expect any surprises that would move rates significantly."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 2.59 percent, while the rate for a 5-1 adjustable-rate mortgage (ARM) is 2.44 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 (01/15/13)Last week's 30-Year Fixed Rate (01/08/13) Change in Basis Points California Mortgage Rates 3.26% 3.31% -5 Colorado Mortgage Rates 3.31% 3.37% -6 Florida Mortgage Rates 3.25% 3.34% -9 Illinois Mortgage Rates 3.29% 3.31% -2 Massachusetts Mortgage Rates 3.23% 3.35% -12 New Jersey Mortgage Rates 3.18% 3.33% -15 New York Mortgage Rates 3.31% 3.32% -1 Pennsylvania Mortgage Rates 3.17% 3.3% -13 Texas Mortgage Rates 3.31% 3.4% -9 Washington Mortgage Rates 3.24% 3.33% -9About 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: Media Contact: Jill Simmons, Zillow 206-757-2701 or press@zillow.com