EMERYVILLE, CA and SEATTLE-Home prices continued to rise in the 30-day period ended June 15, while the rate on the 30-year fixed mortgage rate average has reached the second highest level in two years.

ZipRealty of Emeryville, says its latest research indicates that both prices and the number of listings rose between mid-May and mid-June, its most recent study period.

“With the recent jump in mortgage rates, on top of steady home price increases over the past several quarters, there are good reasons to anticipate some cooling off in the housing market; however it was difficult to detect any clear signs of that change in trend as of mid-June,” says ZipRealty CEO and president Lanny Baker. “From May 17 to June 15, the median sales price of nearly $276,000 in the metros we analyzed was $5,000 higher than just two weeks earlier, and 15.8% higher than in the same period of 2012.”

Meanwhile, Seattle-based Zillow says that its Zillow Mortgage Marketplace has pegged the 30-year fixed rate average at 4.41% as of July 9. That was an increase 24 basis points from 4.17% from the week prior. The 30-year fixed mortgage rate hovered between 4.2% and 4.3%t early last week, spiked to 4.6% on July 5.

Zillow's real-time mortgage rates are based on thousands of custom mortgage quotes submitted daily to anonymous borrowers on the Zillow Mortgage Marketplace site, and reflect the most recent changes in the market. These are not marketing rates, or a weekly survey.

The next ZipRealty Housing Trends Report, due to be published later this week, will likely provide the first glimpse into what, if any, effect higher interest rates are having on near-term real estate price and transaction volume trends.

Zillow Mortgage Marketplace, operated by Zillow, Inc., is a free, open, and transparent lending marketplace, where borrowers connect with lenders to find loans and get the best mortgage rates. Borrowers anonymously submit loan requests and receive an unlimited number of custom mortgage quotes with real rates directly from thousands of competing lenders.

Below are current rates for 30-year fixed mortgages by state. Additional states' rates are available at www.zillow.com/mortgage-rates.

Last
Current week's Change
30-Year 30-Year in
Fixed Rate Fixed Rate Basis
State (07/09/13) (07/02/13) Points
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California Mortgage Rates 4.41% 4.16% +25
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Colorado Mortgage Rates 4.42% 4.22% +20
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Florida Mortgage Rates 4.38% 4.16% +22
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Illinois Mortgage Rates 4.41% 4.19% +22
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Massachusetts Mortgage Rates 4.47% 4.19% +28
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New Jersey Mortgage Rates 4.36% 4.15% +21
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New York Mortgage Rates 4.45% 4.22% +23
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Pennsylvania Mortgage Rates 4.38% 4.13% +25
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Texas Mortgage Rates 4.42% 4.17% +25
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Washington Mortgage Rates 4.44% 4.21% +23
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Instant Insights /

Home Prices, Mortgage Rates and Listings Numbers Trending Upward

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