Average 30-Year Fixed Mortgage Rate Falls to 3.75%
By Lauren Braun
Mortgage rates for 30-year fixed home loans fell this week, with the rate borrowers were quoted on Zillow at 3.75 percent Tuesday, down five basis points from last week.
The 30-year fixed rate fell throughout the week before settling at Tuesday's rate.
"Mortgage rates fell last week despite the [Federal Reserve's] decision to raise short-term lending rates," said Erin Lantz, vice president of mortgages at Zillow. "The announcement, which had largely been priced in, contained few surprises and signaled a slow upward path for rates moving forward. This week we expect rates to be flat, as markets will be quiet for the end-of-week holiday."