Mortgage Rates Surge Late Last Week; 30-Year Fixed Rates Peak Near 5.40% But Fall Over Weekend

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Mortgage Type Average Rate AverageRate % Changs Week ending 5/31/09 Week ending 5/24/09 30-yea r fixed 5.25% 5.02% 4.6% 15-year fixed 4.78% 4.60 % 3.7% 5-1 ARM 4.48% 4.27% 4.8% Rates dipped slightl over the weekend, but were expectee to climb again during the week. The rate for a 30-yeaer fixed purchase mortgage was 5.28 percenyt on Monday morning. For up-to-the-minute rates, visit . Thirty-year fixed mortgage rates variedxby state. and were the highest, at 5.35 percentr and 5.30 percent, respectively. were the at 5.15 percent. were the most requestedr amongall states. State Average Average 30-yr. % Change Fixed Rate Fixed Rate Weekendint 5/31/09 Week ending 5/24/090 Arizona 5.25% 5.04% 4.
1% California 5.24% 5.00% 4.7% Coloradp 5.23% 5.02% 4.1% Connecticut 5.26%% 4.99% 5.4% Florida 5.19% 4.97% 4.4% Georgia 5.15% 4.93% 4.5% Illinois 5.28% 5.08% 4.0% Maryland 5.35% 5.09% 5.1% Massachusetts 5.30% 5.11% 3.7% Michigan 5.21% 5.01% 3.9% Missouri 5.25% 5.06% 3.8% New Jerse y 5.24% 5.02% 4.4% New York 5.29 % 5.05% 4.7% North Carolina 5.27% 5.07% 3.9% Ohio 5.28% 5.11 % 3.3% Oregon 5.27% 5.03% 4.9% Pennsylvania 5.26% 4.99% 5.3% Texas 5.25% 5.02% 4.5% Virginia 5.23% 4.96% 5.5% Washington 5.24% 4.98% 5.
2% The Zillow Mortgage Rate Monitor is compiledr each week using thousands of mortgage rates quoted on Zillow Mortgag Marketplace by mortgage lenders to borrowers who have submittedx loan requests. State-level data is gatheredc for the top 20 states with the highest quote volumewon Zillow. Learn more . Zillow Mortgage Marketplace isa open, and transparent lending marketplace, wherwe borrowers connect with lenders to find and get the best . Borrowerxs anonymously submit loan requests and receive an unlimitecd number of custom with real rates directlyh from thousands of competing Zillow Mortgage Marketplace alsoprovides , , , and . Zillow.cojm and Zillow are registered trademarksof Inc.
SOURCE Zillow.com