Mortgage Rates Rise in Anticipation of Fed Hike

Zillow
Updated
<b class="credit">Zillow</b>The weekly mortgage rate chart illustrates the average 30-year fixed interest rate in six-hour intervals.
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 rose this week, with the rate borrowers were quoted on Zillow Mortgages at 3.66 percent Tuesday, up three basis points from last week.

The 30-year fixed mortgage rate rose early in the week, then hovered around 3.69 percent before dipping to Tuesday's rate.

"Mortgage rates increased last week as Wednesday's Federal Open Market Committee meeting minutes solidified expectations of a December Fed rate hike," said Erin Lantz, vice president of mortgages at Zillow. "This week, more market movement is likely, as all eyes will be watching mid-week Fed speeches and Friday's monthly jobs report."

Additionally, the 15-year fixed mortgage rate was 2.86 percent. For 5/1 ARMs, the rate was 2.89 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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