The 30-year fixed-mortgage rate (FRM) slightly increased week-to-week nationally to an average of 4.3%, according to the Zillow Mortgage Marketplace weekly update. This is up 0.02% from the record low set last week. Regionally 30-year rates are varying, but the majority of states saw an escalation.  California’s current rate is 4.34%, up from 4.33% last week, as is New Jersey’s at 4.28%, up from 4.27%. Rates substantially increased in New York to 4.41% (from 4.23%) and Florida to 4.24% (from 4.18%). Rates decreased in Colorado to 4.20% (from 4.26%) and Massachusetts to 4.22% (from 4.28%). Pennsylvania’s 30-year FRM remained constant at 4.33%. Zillow reported the rate for 15-year fixed home loans at a national average 3.86%, while the rate for a 5-1 adjustable-rate mortgage (ARM) is still 3.27%. Zillow’s rates are based on real-time mortgage quotes from lenders registered with, but not exclusively bound to the company. The national average comes from thousands of daily quotes given to anonymous borrowers through their website.  State averages are also available. Write to Christine Ricciardi. The author holds no relevant investments.

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