Mortgage Rates Fall Further, Hitting 3.50%

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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 rate borrowers were quoted on Zillow at 3.50 percent Tuesday, down 11 basis points from last week.

The 30-year fixed mortgage rate fell throughout the week, reaching 3.47 percent on Sunday before rising slightly.

"Mortgage rates fell last week, touching their lowest levels since mid-2013 before edging slightly higher on Monday," said Erin Lantz, vice president of mortgages at Zillow. "This week, markets will look toward Friday's monthly jobs report and should move upward if the data exceeds expectations."

Additionally, the 15-year fixed mortgage rate was 2.72 percent. For 5/1 ARMs, the rate was 2.73 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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