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Mortgage Rates Down Again After Rising Above 5.00 Percent Last Week
added: 2008-12-30

Mortgage rates increased slightly last week for the first time since early November. The weekly average rates for 30-year fixed mortgages increased to 5.07 percent, up from 4.96 percent the week prior, according to the Zillow Mortgage Rate Monitor, compiled by leading real estate Web site Zillow.com(R).

Rates for 15-year fixed mortgages decreased to 4.86 percent, down from 4.91 percent and 5-1 adjustable rate mortgages increased very slightly to 5.56 percent from 5.55 percent.

However, rates for 30-year fixed mortgages dropped below 5.00% again on Monday evening with the average rate on Zillow Mortgage Marketplace at 4.92 percent.

At a state level, the 30-year fixed mortgage rate in Illinois had the biggest increase, rising from 5.07 percent to 5.28 percent. Rates on 30-year fixed mortgages were lowest in the states of Georgia (4.92%) and Arizona (4.95%), while Illinois (5.28%) and Virginia (5.18%) had the highest rates.


Source: Zillow.com

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