Thirty-Year Mortgage Rate Rises in Latest Week -- Zillow

By Dow Jones Business News, 
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By Tess Stynes

Real-estate website Zillow Inc. ( Z ) said its real-time rate on 30-year fixed-rate mortgages rose, rebounding after anxiety triggered by tensions in the Middle East and the Malaysia Airlines Flight 17 disaster eased.

The 30-year fixed-mortgage rate on Zillow'sMortgage Marketplace, which tracks mortgages on the company's website, increased to 4.04% in the latest week, up from 3.97% a week earlier.

"This coming week, we expect rates to remain stable unless Wednesday's Federal Open Market Committee's announcement or Friday's jobs report reveals unexpected news," said Erin Lantz, vice president of mortgages at Zillow.

Zillow said the rate for a 15-year fixed home loan was 3.05%, compared with 3.01% the previous week. The rate for a 5- 1 adjustable-rate mortgage was 2.83%, compared with 2.77%. A 5-1 ARM has an initial rate that applies for the first five years of the loan and then adjusts annually.

Zillow's real-time mortgage rates are based on thousands of custom mortgage quotes submitted daily to anonymous borrowers through the company's website.

Write to Tess Stynes at tess.stynes@wsj.com


  (END) Dow Jones Newswires
  07-29-141424ET
  Copyright (c) 2014 Dow Jones & Company, Inc.


This article appears in: US Markets , Real Estate

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