30-Year
Fixed Mortgage Rate Down Slightly, After Rising to a Five-Month High Last Week
Mortgage rates for 30-year fixed mortgages fell this week,
with the current rate borrowers were quoted on Zillow Mortgage Marketplace at
3.88 percent, down from 3.97 percent at this same time last week.
The 30-year fixed mortgage rate hovered between 3.89 and
3.98 percent for the majority of the week, dropping to the current rate early
this morning.
“Rates were down
slightly from last week’s five-month high, but have held steady at this new,
somewhat higher plateau,” said Erin Lantz, director of Zillow Mortgage
Marketplace. “Although rates could certainly drop back to the historic lows we
had enjoyed up until early last week, we would expect the drop to be triggered
by fairly dramatic economic news out of the United States or Europe, neither of
which we expect this week.”
Additionally, the 15-year fixed mortgage rate this morning
was 3.1 percent and for 5/1 ARMs, the rate was 2.72 percent.
What are the rates right now? Check Zillow Mortgage Marketplace for up-to-the-minute mortgage rates for your state.
* The weekly rate chart illustrates the average 30-year
fixed interest in six-hour intervals.
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