Altos: Critics wrong about housing, it’s going to soar

Altos: Critics wrong about housing, it’s going to soar

2015 will see notable price appreciation

The real reason Fannie and Freddie don't do principal modifications

Looking out for your retirement

Blackstone adviser: Investors worried about ‘serious correction’

Byron Wien still holds his line
W S

Zillow: 30-year, fixed rate inched up to 4.27% last week

/ Print / Reprints /
| Share More
/ Text Size+
The 30-year, fixed mortgage rate inched up last week to 4.27% from its nadir of 4.26% the week prior, according to the Zillow Mortgage Marketplace weekly update. The national average rate fell steadily through August. Zillow said the current 15-year, fixed average rate is 3.8% and the rate for a 5-1 adjustable rate mortgage is 3.21%. That type of mortgage maintains a steady rate for five years and then is adjusted annually thereafter. Weekly changes varied regionally, as many states saw a decrease in rates but some of the most-populous states experienced increases. Rates in New Jersey rose to 4.36% from 4.19% the previous week, New York's average rate was 4.35% last week, up from 4.24%, and Texas saw its average rate climb to 4.29% from 4.23%. Meanwhile California's current rate of 4.26% is down from 4.28% last week and 4.3% the week prior. Pennsylvania's average rate for a 30-year fixed mortgage fell to 4.31% from 4.37% at Aug. 31. Zillow bases its averages on real-time mortgage quotes from lenders registered with the company. The national average comes from thousands of daily quotes by anonymous borrowers through the Seattle-based company's website. Write to Jason Philyaw. Disclosure: The author holds no relevant investments.

Recent Articles by Jason Philyaw

Comments powered by Disqus