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30-Year Fixed Mortgage Rates Hold Steady; Current Rate is 3.38%, According to Zillow Mortgage Rate Ticker

SEATTLE, Oct. 18, 2016 (GLOBE NEWSWIRE) -- The 30-year fixed mortgage rate on Zillow® Mortgages is currently 3.38 percent, up 1 basis point from this time last week. The 30-year fixed mortgage hovered around 3.38 percent throughout the week.

/EIN News/ -- “Mortgage rates held near four-month highs last week, edging above their pre-Brexit levels for the first time,” said Erin Lantz, vice president of mortgages at Zillow. “This week, rates are unlikely to move sharply in either direction before Thursday’s European Central Bank meeting, but could shift late in the week.”

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 2.63 percent, while the rate for a 5-1 adjustable-rate mortgage (ARM) is 2.72 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
(10/18/16)
Last Week’s
30-Year
Fixed Rate
(10/11/16)
Change in
Basis
Points
 
  California
Mortgage Rates
  3.40 %   3.40 % 0  
  Colorado
Mortgage Rates
  3.38 %   3.40 % -2  
  Florida
Mortgage Rates
  3.35 %   3.34 % +1  
  Illinois
Mortgage Rates
  3.40 %   3.36 % +4  
  Massachusetts
Mortgage Rates
  3.35 %   3.34 % +1  
  New Jersey
Mortgage Rates
  3.38 %   3.41 % -3  
  New York
Mortgage Rates
  3.43 %   3.36 % +7  
  Pennsylvania
Mortgage Rates
  3.37 %   3.41 % -4  
  Texas
Mortgage Rates
  3.36 %   3.40 % -4  
  Washington
Mortgage Rates
  3.38 %   3.35 % +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
press@zillow.com

Distribution channels: Real Estate & Property Management