Mortgage rates have fallen again in the last two weeks. Rates for 30-year fixed mortgages declined to 5.92%, down from 6.03% the week before, as stated on the Zillow Mortgage Rate Monitor, compiled by real estate website Zillow.com(R) 15-year fixed mortgages rates decreased to 5.69%, down from 5.76% while 5-1 adjustable rate mortgages rose to 5.87% from 5.85%.
The Zillow Mortgage Rate Monitor is compiled each week using thousands of mortgage rates quoted on Zillow Mortgage Marketplace www.zillow.com) by mortgage lenders to borrowers who have submitted loan requests. State-level data is gathered for the top 20 states with the highest quote volume on Zillow.
Rates for 30-year fixed mortgages fell even further on Monday evening with the average rate on Zillow Mortgage Marketplace at 5.71%.
At a state level, the 30-year fixed mortgage rate in Pennsylvania saw the biggest decrease, falling from 6.06% to 5.88%. Rates on 30-year fixed mortgages were lowest in the states of Oregon (5.79%) and Georgia (5.81%) and, while Missouri (6.11%) and South Carolina (6.05%) had the highest rates. The table below shows the interest rates for the last 37 years.
