The weekly average rate borrowers were quoted on Zillow Mortgage Marketplace for 30-year fixed mortgages decreased last week to 5.58 percent, down from 5.72 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 fell to 5.01 percent from 5.18 percent, and 5-1 adjustable rate mortgages remained flat at 4.73 percent.

On Monday, rates for 30-year fixed purchase mortgages dropped further, with the average rate on Zillow Mortgage Marketplace at 5.49 percent.

Thirty-year fixed mortgage rates varied by state. Pennsylvania mortgage rates and New York mortgage rates decreased the most, from 5.74 percent to 5.56 percent in Pennsylvania and from 5.79 percent to 5.62 percent in New York. Wisconsin mortgage rates and Massachusetts mortgage rates were the highest, each at 5.68 percent. Florida mortgage rates were the lowest, at 5.50 percent. California mortgage rates were the most requested among all states.