Average 30-Year Fixed Mortgage Rate Falls to 3.75%

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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 home loans fell this week, with the rate borrowers were quoted on Zillow at 3.75 percent Tuesday, down five basis points from last week.

The 30-year fixed rate fell throughout the week before settling at Tuesday's rate.

"Mortgage rates fell last week despite the [Federal Reserve's] decision to raise short-term lending rates," said Erin Lantz, vice president of mortgages at Zillow. "The announcement, which had largely been priced in, contained few surprises and signaled a slow upward path for rates moving forward. This week we expect rates to be flat, as markets will be quiet for the end-of-week holiday."

Additionally, the 15-year fixed mortgage rate was 2.95 percent. For 5/1 ARMs, or adjustable-rate mortgages, the rate was 3.00 percent.

Check Zillow 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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