Weekly Update: Mortgage Rates Remain Low at 3.58%

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



By Lauren Braun

Mortgage rates for 30-year fixed loans rose slightly this week, with the current rate borrowers were quoted on Zillow Mortgages at 3.58 percent, up from 3.57 percent at this time last week.

The 30-year fixed mortgage rate hovered around 3.63 percent, falling to 3.46 percent on Thursday before returning to the current rate.

"Despite substantial volatility, rates remained essentially flat last week, holding near 20-month lows," said Erin Lantz, vice president of mortgages at Zillow. "With minimal incoming data this holiday-shortened week, we expect little rate movement as the markets look to the President's State of the Union address and the European Central Bank's Thursday policy meeting."

Additionally, the 15-year fixed mortgage rate Tuesday morning was 2.92 percent, and for 5/1 ARMs, the rate was 2.83 percent.

What are the interest rates right now? Check Zillow Mortgages for mortgage rate trends and up-to-the-minute mortgage rates for your state.

To see the amount you might be able to afford to borrow, try the mortgage payment and affordability calculators found here.

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