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Mortgage Rates Rise Given Turmoil in the Credit Market
added: 2008-10-01

Mortgage rates have risen over the past week, with rates for 30-year fixed mortgages increasing to 5.96 percent, up from 5.78 percent the week prior according to the Zillow Mortgage Rate Monitor, compiled by leading real estate Web site Zillow.com®.

Mortgage rates for 15-year fixed and 5-1 adjustable rate mortgages have also risen to 5.63 and 5.60 percent, respectively.

At a state level, the 30-year fixed rate mortgage rate in Arizona saw the most significant increase from 5.72 percent to 5.98 percent. Rates on 30-year fixed mortgages were lowest in the states of Georgia (5.90%), Colorado (5.91%), North Carolina (5.91%), and Virginia (5.91%), while New York (6.11%), Maryland (6.04%) and Massachusetts (6.04%) had the highest rates.


Source: Zillow.com

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