Zillow Mortgages: 30-Year Rate Pushes Past 4%, Briefly
By Lauren Braun
Mortgage rates for 30-year fixed mortgages rose this week, with the current rate borrowers were quoted on Zillow Mortgages at 3.90 percent, up from 3.85 percent at this same time last week. The 30-year fixed mortgage rate hovered around 3.92 percent for most of the week, spiking to 4.15 percent Thursday before settling around the current rate.
"Despite occasional inter-day volatility, rates remained stable last week as the Federal Open Market Committee minutes announced the end of its historic stimulus program," said Erin Lantz, vice president of mortgages at Zillow. "This week, all eyes are on Friday's jobs report, which has the potential to shift rates if it reveals unexpected strength or weakness in the labor market."
Additionally, the 15-year fixed mortgage rate this morning was 3.04 percent, and for 5/1 ARMs, the rate was 2.86 percent.
Purchase Mortgage Application Activity: Zillow predicts tomorrow's seasonally adjusted Mortgage Bankers Association Weekly Application Index will show purchase loan activity increased by 14 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.