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Mortgage Rates Drop for Second Straight Week
The weekly average rate borrowers were quoted on Zillow Mortgage Marketplace for 30-year fixed mortgages decreased last week to 5.48 percent, down from 5.58 percent the week prior, according to the Zillow Mortgage Rate Monitor, compiled by leading real estate Web site Zillow.com(R). Meanwhile, rates for 15-year fixed mortgages fell to 4.87 percent from 5.01 percent, and 5-1 adjustable rate mortgages also fell to 4.65 percent, down from 4.73 the week prior.
After Weeks on the Rise, Mortgage Rates Finally Drop
The weekly average rate borrowers were quoted on Zillow Mortgage Marketplace for 30-year fixed mortgages decreased last week to 5.58 percent, down from 5.72 percent the week prior, according to the Zillow Mortgage Rate Monitor, compiled by leading real estate Web site Zillow.com(R). Meanwhile, rates for 15-year fixed mortgages fell to 5.01 percent from 5.18 percent, and 5-1 adjustable rate mortgages remained flat at 4.73 percent.
Mortgage Rates Rise for Third Consecutive Week
The weekly average rate borrowers were quoted on Zillow Mortgage Marketplace for 30-year fixed mortgages increased last week to 5.72 percent, up from 5.48 percent the week prior, according to the Zillow Mortgage Rate Monitor, compiled by leading real estate Web site Zillow.com(R). Meanwhile, rates for 15-year fixed mortgages rose to 5.18 percent from 4.95 percent, and 5-1 adjustable rate mortgages rose to 4.73 percent from 4.62 percent the week prior.
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30-Year Mortgages Stay Low and Stable
The weekly average rate borrowers were quoted on Zillow Mortgage Marketplace for thirty-year mortgages remained stable for the third consecutive week at 5.08 percent, down slightly from 5.09 percent the week prior, according to the Zillow Mortgage Rate Monitor, compiled by leading real estate Web site Zillow.com(R). Meanwhile, rates for 15-year fixed mortgages decreased to 4.77 percent, down from 4.80 percent and 5-1 adjustable rate mortgages rose, up to 4.71 percent from 4.66 percent the week prior.
After Weeks on the Rise, Mortgage Rates Finally Drop
The weekly average rate borrowers were quoted on Zillow Mortgage Marketplace for 30-year fixed mortgages decreased last week to 5.58 percent, down from 5.72 percent the week prior, according to the Zillow Mortgage Rate Monitor, compiled by leading real estate Web site Zillow.com(R). Meanwhile, rates for 15-year fixed mortgages fell to 5.01 percent from 5.18 percent, and 5-1 adjustable rate mortgages remained flat at 4.73 percent.
Understanding Jumbo Mortgages
In simplest terms, jumbo mortgages are loans taken to buy expensive real estate that exceeds loan standards for average homes.
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