SEATTLE, Nov. 15, 2011 (GLOBE NEWSWIRE) — The 30-year fixed mortgage rate on Zillow(R) Mortgage Marketplace is currently 3.9 percent, up seven basis points from 3.83 percent at this same time last week. After rising to 3.94 percent on Thursday, the 30-year fixed mortgage rate hovered between 3.93 and 3.91 percent for the rest of the week, falling to the current rate early this morning.

“Mortgage rates have remained low throughout the week and likely will stay at historically low levels for the foreseeable future,” said Erin Lantz, director of Zillow Mortgage Marketplace. “This is great news for the nearly 900,000 current homeowners that are projected to take advantage of the revamped Home Affordable Refinance Program by the end of 2013.”

Zillow’s real-time mortgage rates are based on thousands of custom mortgage quotes submitted daily to anonymous borrowers through the 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 3.24 percent, while the rate for a 5-1 adjustable-rate mortgage (ARM) is 2.82 percent.

Below are current rates for 30-year fixed mortgages by state. Additional states’ rates are available at: http://www.zillow.com/mortgage-rates.

About Zillow Mortgage Marketplace

Zillow Mortgage Marketplace, operated by Zillow, Inc., 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.

The Zillow logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=10012

Zillow is a registered trademark of Zillow, Inc.