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SEATTLE-Those who follow @GlobeStcom on Twitter and @GlobeStLIVE may have seen a post teasing the announcement, but GlobeSt.com has learned that the 30-year fixed mortgage rate on Zillow Mortgage Marketplace is currently 3.44%, up two basis points from 3.42% at this same time last week. The 30-year fixed mortgage rate hovered between 3.43% and 3.48% for the majority of the week, according to a statement from the company.
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. The rate for a 15-year fixed home loan is currently 2.7%, while the rate for a 5-1 adjustable-rate mortgage is 2.35%.
According to Erin Lantz, director of Zillow Mortgage Marketplace, “Despite an unexpected increase in the unemployment rate, rates ended the week essentially unchanged.”
Lantz expects that rates will remain fairly flat in the coming week “with limited economic news that might change the consensus that the economy is recovering, but at a slow and cautious pace.”
Check out the below chart for 30-year fixed mortgages by state.
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And in other Zillow news, the company just launched an app to help with home improvement called Zillow Digs, where home shoppers and homeowners can find visual inspiration and understand the real cost of remodeling projects. According to Zillow, users can browse tens of thousands of photos and see Zillow's proprietary Digs Estimates for the estimated cost, based on where they live, of the actual bathrooms and kitchens they are viewing.
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Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com and GlobeSt. Real Estate Forum, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
