The weekly average rate borrowers were quoted on Zillow Mortgage Marketplace for 30-year fixed mortgages decreased last week to 5.17 percent, down from 5.19 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 4.57 percent from 4.59 percent, and 5-1 adjustable rate mortgages remained flat at 4.17 percent.

On Monday, rates for 30-year fixed purchase mortgages decreased further, with the average rate on Zillow Mortgage Marketplace at 5.04 percent.

Thirty-year fixed mortgage rates varied by state. Maryland mortgage rates and Florida mortgage rates decreased the most, from 5.33 percent to 5.24 percent in Maryland and from 5.17 percent to 5.12 percent in Florida. Illinois mortgage rates (5.32%), Michigan mortgage rates (5.28%), New York mortgage rates (5.28%) and Ohio mortgage rates (5.28%) were the highest in the country, while Georgia mortgage rates (5.11%), Florida mortgage rates (5.12%) and California mortgage rates (5.12%) were the lowest.