Mortgage Rates Inch Down For Third Consecutive Week

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

SEATTLE, July 7 /PRNewswire/ -- The weekly average rate borrowers were quoted
on Zillow Mortgage Marketplace for 30-year fixed mortgages decreased last week
to 5.40 percent, down 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 fell to 4.79
percent from 4.87 percent, and 5-1 adjustable rate mortgages also fell to 4.49
percent, down from 4.65 the week prior.

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Average Rate Average Rate
Mortgage Type Week ending 7/5/09 Week ending 6/28/09 % Change
30-year fixed 5.40% 5.48% -1.5%
15-year fixed 4.79% 4.87% -1.6%
5-1 ARM 4.49% 4.65% -3.4%

On Monday, rates for 30-year fixed purchase mortgages dropped further, with
the average rate on Zillow Mortgage Marketplace at 5.31 percent. For current,
up-to-the-minute rates, visit www.zillow.com/Mortgage_Rates/.

Thirty-year fixed mortgage rates varied by state. Florida mortgage rates, and
Georgia mortgage rates decreased the most, from 5.44 percent to 5.33 percent
in Florida and from 5.42 percent to 5.32 percent in Georgia. Illinois mortgage
rates, Massachusetts mortgage rates, New York mortgage rates and Ohio mortgage
rates were the highest, each at 5.48 percent. Georgia mortgage rates were the
lowest, at 5.32 percent. California mortgage rates were the most requested
among all states.

Average 30-yr. Fixed Rate Average 30-yr. Fixed Rate
State Week ending 7/5/09 Week ending 6/28/09 % Change
Arizona 5.40% 5.48% -1.5%
California 5.39% 5.45% -1.1%
Colorado 5.39% 5.45% -1.1%
Connecticut 5.39% 5.47% -1.5%
Florida 5.33% 5.44% -2.0%
Georgia 5.32% 5.42% -1.8%
Illinois 5.48% 5.57% -1.6%
Maryland 5.44% 5.52% -1.4%
Massachusetts 5.48% 5.57% -1.6%
Michigan 5.43% 5.50% -1.3%
New Jersey 5.42% 5.49% -1.3%
New York 5.48% 5.54% -1.1%
North Carolina 5.43% 5.50% -1.3%
Ohio 5.48% 5.56% -1.4%
Oregon 5.43% 5.50% -1.3%
Pennsylvania 5.42% 5.47% -0.9%
Tennessee 5.39% 5.45% -1.1%
Texas 5.37% 5.45% -1.5%
Virginia 5.37% 5.45% -1.5%
Washington 5.39% 5.46% -1.3%

The Zillow Mortgage Rate Monitor is compiled each week using thousands of
mortgage rates for conforming loans 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