Thirty-year fixed mortgage rates on Zillow Mortgage Marketplace are currently 4.81 percent, down six basis points from 4.87 percent at this time last week. The 30-year fixed mortgage rates hovered at or below 4.80 percent for most of the past weekend and neared 4.75 percent 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 percent, while the rate for 5-1 adjustable rate mortgages is 3.70 percent.

The volume of mortgage requests in the past week fell 9.4 percent from the prior week. Of last week's requests, 34.7 percent were for refinance loans, 63.5 percent were for purchase loans and 1.9 percent were for home equity loans. The prior week, 34.5 percent of requests were for refinance loans, 63.5 percent were for purchase loans and 2.1 percent were for home equity loans.