Mortgage Rate Update

Mortgage rates for 30-year fixed mortgages rose this week, with the current rate borrowers were quoted on Zillow Mortgages at 3.75 percent, up 1 basis point from last week.

The 30-year fixed mortgage rate hovered around 3.73 percent throughout the week before rising to the current rate Tuesday.

“Mortgage rates held steady last week,” said Erin Lantz, vice president of mortgages at Zillow. “We expect rates to remain calm leading up to Thursday’s Federal Open Market Committee statement as markets eagerly anticipate any signal or action from the Fed on interest rates.”

Additionally, the 15-year fixed mortgage rate was 2.90 percent, and for 5/1 ARMs, the rate was 2.76 percent.

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

 

(Source: ZillowBlog)