Zillow Mortgage Marketplace: 30-Year Loan Reaches 4.06%
By Lauren Braun
Mortgage rates for 30-year fixed mortgages remained fairly steady this week, with the current rate borrowers were quoted on Zillow Mortgages at 4.08 percent, up slightly from 4.06 percent at this same time last week. The 30-year fixed mortgage rate rose early last week, peaking at 4.23 percent on Wednesday before falling to the current rate on Tuesday.
"Mortgage rates inched up early last week during a brief reprieve from worrisome geopolitical headlines, before easing back down and stabilizing for the remainder of the week," said Erin Lantz, vice president of mortgages at Zillow. "This week, Thursday's GDP data has the most potential to move markets, which could cause rates to rise or fall depending on how it meets expectations."
Additionally, the 15-year fixed mortgage rate this morning was 3.15 percent, and for 5/1 ARMs, the rate was 2.92 percent.
Purchase Mortgage Application Activity: Zillow predicts tomorrow's seasonally adjusted Mortgage Bankers Association Weekly Application Index will show purchase loan activity to increase by 6 percent from the week prior. (To learn more about this Zillow analysis, click here.)
What are the interest rates right now? Check Zillow Mortgages for mortgage rate trends and up-to-the-minute mortgage rates for your state.