Mortgage Rates Dip to 3.88%, Fluctuating With Greek Crisis
By Lauren Braun
The 30-year fixed mortgage rate rose to 3.97 percent on Wednesday and hovered there throughout the holiday weekend, then fell to the current rate early this week.
"Mortgage rates jumped last Wednesday after Greece defaulted on its international debts, then fell early this week due to continued Greek instability, turmoil in Chinese stock markets, and unexpectedly strong global oil supplies," said Erin Lantz, vice president of mortgages at Zillow. "Uncertainty over Greece's future will continue to dominate headlines this week, but economic news elsewhere suggests interest rates will remain lower for longer."