Mortgage Rates Jump Higher, Approaching 4%
By Lauren Braun
Mortgage rates for 30-year fixed loans rose this week, with the current rate borrowers were quoted on Zillow Mortgages at 3.96 percent, up 18 basis points from the same time last week.
The 30-year fixed mortgage rate rose to 3.98 percent Friday, then hovered there before settling at the current rate on Tuesday.
"Rates jumped sharply last week -- first on the heels of news that the European Central Bank's bond buying program may end sooner than expected, then an exceptionally strong U.S. jobs report," said Erin Lantz, vice president of mortgages at Zillow. "We expect less volatility in this data-light week."