February 12, 2010
Thirty-year fixed mortgage rates on Zillow Mortgage Marketplace are currently 4.81%, down six basis points from 4.87% at this time last week. The 30-year fixed mortgage rates hovered at or below 4.80% for most of the past weekend and neared 4.75% on Monday.
Zillow’s real-time mortgage rates are based on thousands of custom mortgage quotes submitted daily to anonymous borrowers through the site, and reflect the most recent changes in the market. These are not marketing rates or a weekly survey.
The rate for 15-year fixed home loans is currently 4.27%, while the rate for 5-1 adjustable rate mortgages is 3.70%.
The volume of mortgage requests in the past week fell 9.4% from the prior week. Of last week’s requests, 34.7% were for refinance loans, 63.5% were for purchase loans and 1.9% were for home equity loans. The prior week, 34.5% of requests were for refinance loans, 63.5% were for purchase loans and 2.1% were for home equity loans.