SEATTLE, Dec. 13, 2011 (GLOBE NEWSWIRE) — The 30-year fixed mortgage rate on Zillow(R) Mortgage Marketplace is currently3.78 percent, down five basis points from 3.83 percent at this same time last week. On Thursday, the 30-year fixed mortgage rate dropped to 3.74 percent, which is the lowest recorded rate since Zillow Mortgage Marketplace launched in April 2008; the rate also dipped this low on Sept. 22, 2011. The 30-year fixed mortgage rate hovered between 3.76 percent and 3.79 percent over the weekend, and then returned to 3.76 percent before rising to the current rate early this morning.

“Mortgage rates have remained fairly insulated from stock market volatility for the past few weeks and have hovered in a narrow band between 3.7% and 3.9%,” said Erin Lantz, director of Zillow Mortgage Marketplace. “We expect this decoupling of rates and stock prices to continue this week as rumors of renewed Fed economic stimulus next quarter offsets any potentially positive economic news that might lift stock prices.”

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 3.11 percent, while the rate for a 5-1 adjustable-rate mortgage (ARM) is 2.52 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.

Zillow is a registered trademark of Zillow, Inc.

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