Mortgage Rates Fall Slightly, Remain Below 4% Again

By Lauren Braun

Mortgage rates for 30-year fixed mortgages fell this week, with the average rate borrowers were quoted on Zillow Mortgages at 3.77 percent, down from 3.82 percent at this time last week.

"Rates eased last week on Europe's weak economic data and the unexpected rate cut from China's central bank," said Erin Lantz, vice president of mortgages at Zillow. "Looking ahead, with several important U.S. data reports scheduled for release, we expect modest volatility in this holiday-shortened week."

Additionally, the 15-year fixed mortgage rate Tuesday morning was 2.96 percent, and for 5/1 ARMs, the rate was 2.78 percent.

Purchase Mortgage Application Activity

Zillow predicts Wednesday's seasonally adjusted Mortgage Bankers Association Weekly Application Index will show purchase loan activity did not change from the prior week. 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.