Mortgage rates fell for a fifth consecutive week nationwide last week, according to Zillow.com, which has been tracking mortgages since April 2008.
Zillow, which determines average mortgage rates based on custom mortgage quotes submitted daily through its website, found the average rate on a 30-year, fixed-rate mortgage is 4.58 percent, down from 4.71 percent a week ago.
The average rate for a 15-year mortgage is 3.77 percent, down from 3.99 percent. A 5-1 adjustable-rate mortgage is averaging 2.99 percent, down from 3.25 percent.
via bizjournals.com
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