Mortgage Rate Update

Mortgage rates for 30-year fixed mortgages fell this week, with the current rate borrowers were quoted on Zillow Mortgages at 3.74 percent, down 1 basis point from last week.

The 30-year fixed mortgage rate hovered around the current rate throughout the week.

“Rates dipped slightly last week following a mildly disappointing jobs report but quickly rebounded, ending the week where they began,” said Erin Lantz, vice president of mortgages at Zillow. “With limited domestic data slated for release in this holiday-shortened week, we expect rates will remain fairly steady for the second week in a row.”

Additionally, the 15-year fixed mortgage rate was 2.90 percent, and for 5/1 ARMs, the rate was 2.66 percent.

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

 

(Source: ZillowBlog)