Mortgage Rates Fall Again, Reaching Lowest Level Since April

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

By Lauren Braun

Mortgage rates for 30-year fixed loans fell this week, with the rate borrowers were quoted on Zillow Mortgages at 3.67 percent Tuesday, down 10 basis points from last week.

The 30-year fixed mortgage rate peaked at 3.79 percent before steadily declining for the remainder of the week.

"Mortgage rates continued their three-week downward trend last week, hitting their lowest levels since April on deepening financial turmoil in China," said Erin Lantz, vice president of mortgages at Zillow. "Historically, late August is a quiet time in financial markets, but global uncertainty and a few important Fed speeches this week could lead to some rate volatility."

Additionally, the 15-year fixed mortgage rate was 2.86 percent. For 5/1 ARMs, the rate was 2.65 percent.

Check Zillow Mortgages for rate trends and up-to-the-minute rates for your state, or use the mortgage calculator to calculate monthly payments at the current rates.

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