Mortgage Rate Update

Mortgage rates for 30-year fixed mortgages fell this week, with the current rate borrowers were quoted on Zillow at 3.72 percent, down 3 basis points from last week.

The 30-year fixed mortgage rate hovered around 3.75 percent throughout the week before dipping to the current rate.

“Mortgage rates remained flat most of last week, holding near their lowest levels in a month,” said Erin Lantz, vice president of mortgages at Zillow. “We expect rates to be more volatile this week leading up to Friday’s monthly jobs report, several important Fed speeches and possible shifts in energy markets after the Organization of Petroleum Exporting Countries’ (OPEC) annual summit on Friday.”

Additionally, the 15-year fixed mortgage rate was 2.91 percent, and for 5/1 ARMs, the rate was 2.92 percent.

*The weekly mortgage rate chart illustrates the average 30-year fixed interest rate in six-hour intervals.

(Source: ZillowBlog)