Mortgage Rates Continues to Fall Hitting 3.45 Percent
Mortgage rates for 30-year fixed mortgages rose this week, with the current rate borrowers were quoted on Zillow at 3.45 percent, up 2 basis points from last week.
The 30-year fixed mortgage fell to 3.37 percent on Thursday, then hovered around 3.43 percent before rising to the current rate.
"Mortgage rates were flat last week, holding near their lowest levels since 2013, on continued turmoil in global equities and oil markets," said Erin Lantz, vice president of mortgages at Zillow. "While it's hard to imagine mortgage rates falling much lower, putting them within striking distance of all-time historic lows, international economic news, speeches by Fed officials, and several U.S. data releases this week could continue the downward pressure on long-term rates."
Additionally, the 15-year fixed mortgage rate was 2.71 percent, and for 5/1 ARMs, the rate was 2.69 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.
*The weekly mortgage rate chart illustrates the average 30-year fixed interest rate in six-hour intervals.