Mortgage Rates Rise for Third Consecutive Week

Rates Fall on Monday, According to Zillow(R) Mortgage Rate Monitor

SEATTLE, June 16 /PRNewswire/ -- 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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Average Rate Average Rate
Mortgage Type Week ending 6/14/09 Week ending 6/7/09 % Change

30-year fixed 5.72% 5.48% 4.4%
15-year fixed 5.18% 4.95% 4.6%
5-1 ARM 4.73% 4.62% 2.4%

On Monday, rates for 30-year fixed purchase mortgages dropped, with the
average rate on Zillow Mortgage Marketplace at 5.54 percent. For current,
up-to-the-minute rates, visit www.zillow.com/Mortgage_Rates/.

Thirty-year fixed mortgage rates varied by state. Pennsylvania mortgage rates,
New Jersey mortgage rates, and Arizona mortgage rates increased the most,
from 5.45 percent to 5.74 percent in Pennsylvania, from 5.45 percent to 5.72
percent in New Jersey, and from 5.47 percent to 5.74 percent in Arizona. New
York mortgage rates and Illinois mortgage rates were the highest, each at 5.79
percent. Florida mortgage rates were the lowest, at 5.66 percent. California
mortgage rates were the most requested among all states.

Average 30-yr. Average 30-yr.
Fixed Rate Fixed Rate
State Week ending 6/14/09 Week ending 6/7/09 % Change
Arizona 5.74% 5.47% 4.9%
California 5.70% 5.45% 4.6%
Colorado 5.71% 5.48% 4.2%
Connecticut 5.73% 5.50% 4.2%
Florida 5.66% 5.44% 4.0%
Georgia 5.67% 5.48% 3.5%
Illinois 5.79% 5.53% 4.7%
Maryland 5.75% 5.52% 4.2%
Massachusetts 5.78% 5.55% 4.1%
Michigan 5.69% 5.48% 3.8%
Minnesota 5.77% 5.51% 4.7%
Missouri 5.74% 5.53% 3.8%
New Jersey 5.72% 5.45% 5.0%
New York 5.79% 5.56% 4.1%
North Carolina 5.72% 5.52% 3.6%
Oregon 5.70% 5.50% 3.6%
Pennsylvania 5.74% 5.45% 5.3%
Texas 5.68% 5.45% 4.2%
Virginia 5.71% 5.48% 4.2%
Washington 5.69% 5.45% 4.4%

The Zillow Mortgage Rate Monitor is compiled each week using thousands of
mortgage rates quoted on Zillow Mortgage Marketplace by mortgage lenders to
borrowers who have submitted loan requests. State-level data is gathered for
the top 20 states with the highest quote volume on Zillow. Learn more about
our rates.

About Zillow Mortgage Marketplace

Zillow Mortgage Marketplace is a free, open, and transparent lending
marketplace, where borrowers connect with lenders to find loans and get the
best mortgage rates. Borrowers anonymously submit loan requests and receive
an unlimited number of custom mortgage quotes with real rates directly from
thousands of competing lenders. Zillow Mortgage Marketplace also provides
mortgage calculators, mortgage advice, mortgage widgets, and lender
directories.

Zillow.com and Zillow are registered trademarks of Zillow, Inc.

SOURCE Zillow.com

Katie Curnutte of Zillow.com, +1-206-757-2785, press@zillow.com