30-Year Mortgage Rates Continue to Trend Lower

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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 at 3.59 percent, down nine basis points from last week.

The 30-year fixed mortgage rate fell throughout the week, reaching 3.56 percent on Monday before rising slightly.

"Mortgage rates fell last week to their lowest levels since last April on the heels of falling oil prices and continued global turmoil surrounding growth worries in China," said Erin Lantz, vice president of mortgages at Zillow. "With little U.S. economic data on the docket this week, more 'flight-to-quality' should dominate headlines until markets find a bottom."

Additionally, the 15-year fixed mortgage rate was 2.79 percent. For 5/1 ARMs, or adjustable-rate mortgages, the rate was 2.66 percent.

Check Zillow for mortgage rate trends and up-to-the-minute rates for your state, or use the mortgage calculator to calculate monthly payments at the current rates.

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