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National 30-year Fixed Rate Drops Slightly
added: 2009-07-29

The weekly average rate borrowers were quoted on Zillow Mortgage Marketplace for 30-year fixed mortgages decreased slightly last week to 5.29 percent, up from 5.31 percent the week prior, according to the Zillow Mortgage Rate Monitor, compiled by leading real estate Web site Zillow.com . Meanwhile, rates for 15-year fixed mortgages fell to 4.66 percent from 4.69 percent, and 5-1 adjustable rate mortgages also fell to 4.23 percent, down from 4.31 the week prior.

On Monday, the rate for 30-year fixed purchase mortgages on Zillow Mortgage Marketplace remained at 5.29 percent.

Thirty-year fixed mortgage rates varied by state. Colorado mortgage rates, Michigan mortgage rates, Virginia mortgage rates and Washington mortgage rates decreased the most, from 5.30 percent to 5.24 percent in Colorado, from 5.33 percent to 5.27 percent in Michigan, from 5.31 percent to 5.25 percent in Virginia and from 5.31 percent to 5.25 percent in Washington. Ohio mortgage rates (5.41%) and Illinois mortgage rates (5.40%) were the highest in the country, while Colorado mortgage rates (5.24%) Georgia mortgage rates (5.24%) and Texas mortgage rates (5.24%) were the lowest. California mortgage rates were the most requested among all states.


Source: PR Newswire

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