Mortgage rate update

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mortgage rate update

Current mortgage rates for 30-year fixed mortgages decreased this week, with the current rate borrowers were quoted on Zillow at 3.42 percent, down 5 basis points from last week.

The 30-year fixed mortgage rate dropped early in the week, hitting 3.36 percent before rising to the current rate.

"Mortgage rates fell last Friday after a disappointing May jobs report, but have since recovered some of that initial decline," said Erin Lantz, vice president of mortgages at Zillow. "This week we expect less volatility with several less significant data releases on the schedule."

Additionally, the 15-year fixed mortgage rate was 2.66 percent, and 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.

*The weekly mortgage rate chart illustrates the average 30-year fixed interest rate in six-hour intervals.

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Mortgage rate update
Into the wild: $127,900, 1478 Forest Drive, Mormon Lake, AZ 86038

Get two vacation homes for the price of one when you buy this renovated, two-bedroom cabin set among pine trees at Mormon Lake; the second building on the property is fitted for water and electricity and could be remodeled into a guest home. The single-level living makes it advantageous for families with small children or those looking to grow with the home. Hike in nearby Coconino National Forest, where you'll find the largest tract of ponderosa pine trees in North America. Who said vacation couldn't be educational?

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Off the grid: $199,000, 675 Berkley Lane, Big Bear Lake, CA 92315

This two-bedroom home fits a lot of enviable amenities (wood-beamed ceilings and a brick fireplace, to start) into its 896 square feet on a private cul-de-sac. The fenced-in yard and large front deck make it ideal for family ski vacations, thanks to its close proximity to the lake, ski slopes, and hiking trails.

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La dolce vita goes modern: $247,900, 775 Gulf Shore Drive No. 9211, Destin, FL 32541

No one wants to forfeit comfort when they're on vacation, and there's no such worry at this two-bedroom condo in the Sandpiper Cove resort in Destin, FL. The 1,132-square-foot home offers new appliances, three flat-screen televisions, and views of the Gulf Coast from the patio. (Can you feel the breeze already?) Practice your swing on the par-3 golf course and six tennis courts, or bask in the sunshine on some of the 1,100 feet of Sandpiper's deeded beach, five pools, and boating docks.

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Sleek and stylish on the seashore: $650,000, 571 Accabonac Road, East Hampton, NY 11937

Grab a slice of the American dream at this quaint, three-bedroom cottage with close proximity to the village and five beaches in East Hampton, NY. The house makes it easy to entertain all of those friends escaping the city, with an open floor plan and 1,143 square feet spread over two floors, plus 666 square feet on the lower level. Take this house off the market before peak Hamptons season starts!

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An oceanfront oasis: $35 million, 121 Eel Point Road, Nantucket, MA 02554

True tranquillity lies at the end of the long driveway of this seven-bedroom, Nantucket Sound-facing home. The 10,000-plus-square-foot home comprises a mix of New England decor and architecture in the form of coffered ceilings, wide-board wood floors, and endless built-ins. Friends will clamor to stay at the four-bedroom guest cottage, and the pool, cabana, tennis court, and spa mean you don't have to leave the estate to enjoy the iconic island.

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Living the high life in the mountains: $60 million, 125 Rooney Circle, Aspen, CO 81611

No need to be an expert marksman to enjoy this 52.2-acre hunting lodge estate with two trout ponds in Castle Creek Valley. Elk Mountain Lodge's rustic-chic architecture and decor (think fieldstone fireplaces and wood-beam ceilings) match the estate's private natural surroundings without sparing a moment of relaxation. Unwind by the pool or simply take in the Aspen sunset (or sunrise, if you're ambitious) from one of the house's rooms filled with floor-to-ceiling windows.

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