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SEATTLE, Aug. 30, 2016 -- The 30-year fixed mortgage rate on Zillow® Mortgages is currently 3.27 percent, unchanged from this time last week. The 30-year fixed mortgage hovered between 3.26 percent and 3.34 percent before dropping to the current rate on Tuesday.
“Mortgage rates continued to hold steady last week, essentially unchanged from the historic lows recorded following Brexit at the end of June,” said Erin Lantz, vice president of mortgages at Zillow. “This week, all eyes will be on Friday’s monthly jobs report, especially after Fed officials at last week’s Jackson Hole meeting pointed to incoming data as critical for determining the path and pace of interest rate hikes moving forward.”
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 2.55 percent, while the rate for a 5-1 adjustable-rate mortgage (ARM) is 2.63 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 (8/30/16) | Last Week’s 30-Year Fixed Rate (8/23/16) | Change in Basis Points | ||||||
| California Mortgage Rates | 3.26 | % | 3.27 | % | -1 | ||||
| Colorado Mortgage Rates | 3.25 | % | 3.27 | % | -2 | ||||
| Florida Mortgage Rates | 3.27 | % | 3.26 | % | +1 | ||||
| Illinois Mortgage Rates | 3.28 | % | 3.30 | % | -2 | ||||
| Massachusetts Mortgage Rates | 3.25 | % | 3.28 | % | -3 | ||||
| New Jersey Mortgage Rates | 3.25 | % | 3.27 | % | -2 | ||||
| New York Mortgage Rates | 3.35 | % | 3.35 | % | 0 | ||||
| Pennsylvania Mortgage Rates | 3.25 | % | 3.27 | % | -2 | ||||
| Texas Mortgage Rates | 3.27 | % | 3.25 | % | +2 | ||||
| Washington Mortgage Rates | 3.30 | % | 3.28 | % | +2 | ||||
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]
