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RISMEDIA, January 8, 2009-Thirty-year mortgage rates increased slightly last week for the second consecutive week. The weekly average rates for 30-year fixed mortgages increased to 5.10%, up from 5.07% the week prior, according to the Zillow Mortgage Rate Monitor, compiled by leading real estate website Zillow.com(R). Meanwhile, rates for 15-year fixed mortgages decreased to 4.79%, down from 4.86% and 5-1 adjustable rate mortgages increased slightly to 5.62% from 5.56%.

Mortgage Type Average Rate Average Rate % Change
Week ending 1/4/09 Week ending 12/22/08
30-year fixed 5.10% 5.07% 0.6%
15-year fixed 4.79% 4.86% -1.4%
5-1 ARM 5.62% 5.56% 1.1%

Rates for 30-year fixed mortgages edged just below 5.00% again on Monday evening, with the average rate on Zillow Mortgage Marketplace at 4.98%.

At a state level, the 30-year fixed mortgage rate in North Carolina had the biggest increase, rising from 4.99% to 5.09%. Rates on 30-year fixed mortgages were lowest in the states of Arizona (4.97%) and Georgia (4.99%), while Maryland (5.26%) and Virginia (5.24%) had the highest rates.

State Average 30-yr. Average 30-yr.
Fixed Rate Fixed Rate
Week ending 1/4/08 Week ending 12/28/08 % Change
Arizona 4.97% 4.95% 0.5%
California 5.10% 5.11% -0.2%
Colorado 5.16% 5.10% 1.1%
Connecticut 5.06% 5.02% 0.9%
Florida 5.02% 4.97% 1.0%
Georgia 4.99% 4.92% 1.5%
Illinois 5.20% 5.28% -1.7%
Maryland 5.26% 5.16% 1.8%
Massachusetts 5.13% 5.10% 0.5%
Michigan 5.16% 5.12% 0.8%
Minnesota 5.16% 5.06% 1.9%
Missouri 5.14% 5.07% 1.4%
New Jersey 5.07% 5.01% 1.2%
New York 5.14% 5.15% -0.1%
North Carolina 5.09% 4.99% 2.0%
Oregon 5.03% 4.98% 1.1%
Pennsylvania 5.02% 5.01% 0.2%
Texas 5.06% 5.04% 0.4%
Virginia 5.24% 5.18% 0.7%
Washington 5.05% 4.99% 1.3%