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Mortgage Rates Rise for Second Straight Week
added: 2009-06-09

The weekly average rate borrowers were quoted on Zillow Mortgage Marketplace for 30-year fixed mortgages increased last week to 5.48 percent, up from 5.25 percent the week prior, according to the Zillow Mortgage Rate Monitor, compiled by leading real estate Web site Zillow.com(R). Meanwhile, rates for 15-year fixed mortgages rose to 4.95 percent from 4.78 percent, and 5-1 adjustable rate mortgages rose to 4.62 percent from 4.48 percent the week prior.

On Monday, rates for 30-year fixed purchase mortgages rose further, with the average rate on Zillow Mortgage Marketplace at 5.62 percent.

Thirty-year fixed mortgage rates varied by state. Georgia mortgage rates and Missouri mortgage rates increased the most, from 5.15 percent to 5.48 percent in Georgia and from 5.25 percent to 5.53 percent in Missouri. New York mortgage rates and Massachusetts mortgage rates were the highest, at 5.56 percent and 5.55 percent, respectively. Florida mortgage rates were the lowest, at 5.44 percent. California mortgage rates were the most requested among all states.


Source: PR Newswire

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