The weekly average rate borrowers were quoted on Zillow Mortgage Marketplace for 30-year fixed mortgages increased last week to 5.72 percent, up from 5.48 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 5.18 percent from 4.95 percent, and 5-1 adjustable rate mortgages rose to 4.73 percent from 4.62 percent the week prior.
On Monday, rates for 30-year fixed purchase mortgages dropped, with the average rate on Zillow Mortgage Marketplace at 5.54 percent.
Thirty-year fixed mortgage rates varied by state. Pennsylvania mortgage rates, New Jersey mortgage rates, and Arizona mortgage rates increased the most, from 5.45 percent to 5.74 percent in Pennsylvania, from 5.45 percent to 5.72 percent in New Jersey, and from 5.47 percent to 5.74 percent in Arizona. New York mortgage rates and Illinois mortgage rates were the highest, each at 5.79 percent. Florida mortgage rates were the lowest, at 5.66 percent. California mortgage rates were the most requested among all states.