The weekly average rate borrowers were quoted on Zillow Mortgage Marketplace for 30-year fixed mortgages decreased last week to 5.19 percent, down from 5.30 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 4.59 percent from 4.63 percent, and 5-1 adjustable rate mortgages fell to 4.17 percent, down from 4.22 the week prior.

On Monday, rates for 30-year fixed purchase mortgages remained steady, with the average rate on Zillow Mortgage Marketplace at 5.18 percent.

Thirty-year fixed mortgage rates varied by state. Georgia mortgage rates, Illinois mortgage rates and Massachusetts mortgage rates decreased the most, from 5.27 percent to 5.12 percent in Georgia, from 5.44 percent to 5.30 percent in Illinois and from 5.38 percent to 5.23 percent in Massachusetts. New York mortgage rates (5.31%) and Maryland mortgage rates (5.33%) were the highest in the country, while Georgia mortgage rates (5.12%) and Colorado mortgage rates (5.15%) were the lowest. California mortgage rates were the most requested among all states.

The Zillow Mortgage Rate Monitor is compiled each week using thousands of mortgage rates for conforming loans quoted on Zillow Mortgage Marketplace by mortgage lenders to borrowers who have submitted loan requests. State-level data is gathered for the top 20 states with the highest quote volume on Zillow.