Mortgage Rates Down Below 6.00% Last Week — Continuing to Fall Today

Date:November 25, 2008 | Author:Katie Curnutte | Category:Mortgages

After two steady weeks for mortgage rates, they’re down below 6.00% again. According to the Zillow Mortgage Rate Monitor, rates for 30-year fixed mortgages fell to 5.92% last week, down from 6.03%.

And this week, those rates kept falling on Zillow Mortgage Marketplace. Last time I checked, the rate for 30-year fixed mortgages was all the way down to 5.46%. Check out the live rate tables here.

Here’s what happened last week in the 20 states that see the most activity on Zillow Mortgage Marketplace:

Update: Rates are getting REALLY low today. As of 1:45 Pacific time, the rate for a 30-year fixed mortgage was 5.38% — that’s the lowest rate we’ve ever seen since Zillow Mortgage Marketplace launched last April!