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30-year Fixed Rates Inch Upward After Four Weeks of Declines
added: 2009-07-22

The weekly average rate borrowers were quoted on Zillow Mortgage Marketplace for 30-year fixed mortgages increased last week to 5.31 percent, up from 5.26 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 rose to 4.69 percent from 4.65 percent, and 5-1 adjustable rate mortgages also rose to 4.31 percent, down from 4.30 the week prior.

On Monday, rates for 30-year fixed purchase mortgages increased further, with the average rate on Zillow Mortgage Marketplace at 5.35 percent.

Thirty-year fixed mortgage rates varied by state. Minnesota mortgage rates and Maryland mortgage rates increased the most, from 5.32 percent to 5.40 percent in Minnesota and from 5.33 percent to 5.40 percent in Maryland. Illinois mortgage rates (5.41%), Minnesota mortgage rates (5.40%) and Maryland mortgage rates (5.40%) were the highest in the country, while Georgia mortgage rates (5.22%) were the lowest. California mortgage rates were the most requested among all states.


Source: PR Newswire

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