Mortgage Rate Update

Mortgage rates for 30-year fixed mortgages rose this week, with the current rate borrowers were quoted on Zillow Mortgages at 3.63 percent, up 4 basis points from last week.

The 30-year fixed mortgage rate hovered around 3.60 percent for most of the week before rising to the current rate.

“Mortgage rates remained flat for most of last week despite central bank moves in Europe and China,” said Erin Lantz, vice president of mortgages at Zillow. “This week markets will look toward Wednesday’s Federal Open Market Committee statement and Thursday’s inflation data for greater insight into the path of interest rates for the coming months.”

Additionally, the 15-year fixed mortgage rate was 2.82 percent, and for 5/1 ARMs, the rate was 2.77 percent.

Check Zillow Mortgages for mortgage rate trends and up-to-the-minute mortgage rates for your state, or use the mortgage calculator to calculate monthly payments at the current rates.

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

 

(Source: ZillowBlog)