Mortgage rates for 30-year fixed loans fell this week, with the current rate borrowers were quoted on Zillow Mortgages at 3.77 percent, down 5 basis points from the same time last week.
The 30-year fixed mortgage rate fell early in the week, then hovered around 3.71 percent before rising to the current rate on Tuesday. Hawaii saw 30-year fixed rates as low as 3.67 percent.
"Rates fell late last week as a string of weak data raised concerns about the underlying strength of the U.S. economy," said Erin Lantz, vice president of mortgages at Zillow. "This week markets will look to a few Fed speeches and minutes from April's Federal Open Market Committee meeting for further guidance."