Tuesday, October 23, 2012

Mortgage rates dropping again: refinance los angeles

Los Angeles mortgage rate expert Bill Rayman keeps this blog updated with latest mortgage rate news.

The Global Newswire brought the following mortgage news about rates, which have fallen slightly since last week: 

SEATTLE, Oct. 23, 2012 (GLOBE NEWSWIRE) -- The 30-year fixedmortgage rate on Zillow® Mortgage Marketplace is currently 3.28 percent, up two basis points from 3.26 percent at this same time last week. After peaking at 3.35 percent on Friday, the 30-year fixed mortgage rate dropped and hovered between 3.27 and 3.3 percent over the weekend, dropping to the current rate this morning.
"This past week, rates moved up slightly on optimism about the Eurozone's recovery and improving U.S. economic data," said Erin Lantz, director of Zillow Mortgage Marketplace. "Although Wednesday's Federal Open Market Committee announcement has the potential to move markets, we don't expect policy changes that would move markets out of the flat sideways pattern in the coming week."
Zillow's real-time mortgage rates are based on thousands of custom mortgage quotes submitted daily to anonymous borrowers on the Zillow Mortgage Marketplace site, and reflect the most recent changes in the market. These are not marketing rates, or a weekly survey.
The rate for a 15-year fixed home loan is currently 2.65 percent, while the rate for a 5-1 adjustable-rate mortgage(ARM) is 2.51 percent.
Below are current rates for 30-year fixed mortgages by state. Additional states' rates are available at: http://www.zillow.com/mortgage-rates.

Up to date mortgage rate information comes from Zillow.com's Market Place, where lenders submit data which is averaged in real time.

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