The weekly average rate borrowers were quoted on Zillow Mortgage Marketplace for thirty-year mortgages remained relatively steady for the third consecutive week at 5.28 percent, down slightly from 5.29 percent the week prior, according to the Zillow Mortgage Rate Monitor, compiled by leading real estate Web site Zillow.com®.

Meanwhile, rates for 15-year fixed mortgages dropped to 4.82 percent, down from 4.89 percent and 5-1 adjustable rate mortgages dropped considerably, down to 4.64 percent from 4.93 percent the week prior.

Although rates for 30-year fixed purchase mortgages were steady last week, they had fallen on Monday evening, with the average rate on Zillow Mortgage Marketplace at 5.15 percent.

Thirty-year fixed mortgage rates varied by state. Massachusetts mortgage rates, Connecticut mortgage rates and California mortgage rates decreased the most, dropping from 5.35 percent to 5.29 percent in Massachusetts and from 5.28 percent to 5.23 percent in both Connecticut and California. Georgia mortgage rates (5.14 %) and Texas mortgage rates (5.22%) were the lowest in the country while Wisconsin mortgage rates (5.44%) were the highest.