Thirty-year fixed mortgage rate continues rapid fall Central Valley Business Times
The rate for 30-year fixed mortgages decreased seven basis points last week to 4.62 percent, down from 4.69 percent the week prior, according to Zillow Inc. of Seattle, Wash.
The company operates the real estate website Zillow.com.
Rates for 15-year fixed mortgages fell four basis points to 4.19 percent from 4.23 percent, while 5-1 adjustable rate mortgages increased five basis points to 3.74 percent, from 3.69 percent the week prior, says Zillow.
The volume of mortgage requests last week fell 17 percent from the prior week. Of last week's requests, 49 percent were for refinance loans, 49 percent were for purchase loans and 2 percent were for home equity loans, the company says. There was no change
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