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Mortgage Rates Stay Relatively Stable During Latter Part of Last Week
added: 2008-11-13

Mortgage rates declined last week, with rates for 30-year fixed mortgages falling to 6.09 percent, down from 6.26 percent the week prior, according to the Zillow Mortgage Rate Monitor, compiled by leading real estate Web site Zillow.com®.

Rates for 15-year fixed mortgages fell to 5.73 percent, down from 6.01 percent and 5-1 adjustable rate mortgages rose to 5.87 percent from 5.81 percent.

Rates for 30-year fixed mortgages appeared to be down slightly on Monday evening with the average rate on Zillow Mortgage Marketplace at 6.00 percent.

At a state level, the 30-year fixed mortgage rate in Michigan saw the biggest decrease, falling from 6.48 percent to 6.04 percent. Rates on 30-year fixed mortgages were lowest in the states of Tennessee (5.96%) and Texas (5.99%), while Pennsylvania (6.21%) and Connecticut (6.18%) had the highest rates.


Source: Zillow.com

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