According to Zillow Inc. of Seattle, Wash, the rate for 30-year fixed mortgages has dropped down seven basis points last week to 4.62%, down from 4.69% the last week.

Drop of 4 Basis points in 15-year fixed mortgages rates

15-year fixed mortgages rates fell four basis points from 4.23 percent to 4.19 percent, while 5-1 adjustable rate mortgages increased five basis points to 3.74 percent, from 3.69 percent the week before.

17% Drop in volume of mortgage requests

Last week the volume of mortgage requests dropped down 17% from the prior week.

It has been said by the company that out of last week’s requests, 49% were for refinance loans, 49% were for purchase loans and 2% were for home equity loans.

30 year fixed mortgage rates for different states

The thirty-year fixed mortgage rates are different for different states. The rates of Ohio and North Carolina decreased the most, to 4.63 percent from 4.79 percent in Ohio and to 4.60 percent from 4.72 percent in North Carolina.

New York mortgage rates (4.79 percent), Missouri mortgage rates (4.72 percent) and Illinois mortgage rates (4.72 percent) were recorded as the highest in the country, while Texas mortgage rates (4.52 percent) and Colorado mortgage rates (4.54 percent) were recorded as the lowest.

Among all states California (4.62 percent) mortgage rates were the most requested.

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