30 Year Mortgage Rates Fall Again...

I hope everyone enjoyed our first 100 degree day yesterday! It's like having a blow dryer on you, when your hair is not wet!
Anyway -- WELCOME SUMMER! ... Rates are down...please read!

RISMEDIA, April 22, 2009-The weekly average rate borrowers were quoted on Zillow Mortgage Marketplace for thirty-year mortgage rates fell during the past week. Last week’s rate was 5.06%, down from 5.10% the week prior, according to the Zillow Mortgage Rate Monitor, compiled by real estate website Zillow.com®. Meanwhile, rates for 15-year fixed mortgages decreased to 4.68%, down from 4.73% and 5-1 adjustable rate mortgages decreased substantially, down to 4.47% from 4.65% the week prior.

Mortgage Type % Change
30-year fixed -0.90%
15-year fixed -1.00%
5-1 ARM -3.80%

Rates for 30-year fixed purchase mortgages fell even further on Monday, with the average rate on Zillow Mortgage Marketplace at 4.99%.
Thirty-year fixed mortgage rates varied by state. Maryland mortgage rates and New Jersey mortgage rates decreased the most, down from 5.17% to 5.10% in Maryland, and from 5.12% to 5.05% in New Jersey. Georgia mortgage rates (4.99%) and Florida mortgage rates (4.99%) were the lowest in the country, while Ohio mortgage rates (5.17%) were the highest. California mortgage rates were the most requested among all states.

% Change
Arizona -0.8%

The Zillow Mortgage Rate Monitor is compiled each week using thousands of mortgage rates quoted on Zillow Mortgage Marketplace by mortgage lenders to buyers who have submitted loan requests. State-level data is gathered for the top 20 states with the highest quote volume on Zillow.
For more information, visit www.zillow.com.

If you have any mortgage related questions, please contact my preferred lender - Geoff Rooker at Security Mortgage, 480-282-5858 or geoff@securitymortgagecorp.net.