Mortgage Rates Fall to Lowest Level Since Early June

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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 fell this week, with the current rate borrowers were quoted on Zillow Mortgages at 3.83 percent, down 8 basis points from the same time last week.

The 30-year fixed mortgage rate moved lower throughout the week before settling at that rate Tuesday.

"Mortgage rates fell last week to their lowest level since early June," said Erin Lantz, vice president of mortgages at Zillow. "There is potential for increased rate volatility this week as markets look to Wednesday's Federal Open Market Committee statement and Thursday's GDP report. Rates could move back up if the data are stronger than expected."

Additionally, the 15-year fixed mortgage rate was 2.97 percent. For 5/1 ARMs, the rate was 2.84 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.

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