Zillow Mortgage Marketplace: 30-Year Rate Rises by 0.5%
By Alexa Fiander
Mortgage rates for 30-year fixed mortgages rose this week, with the current rate borrowers were quoted on Zillow Mortgages at 4.08 percent, up from 4.03 percent at this same time last week. The 30-year fixed mortgage rate hovered around 4.10 percent for the majority of the week, peaking at 4.17 percent on Thursday before easing back down to the current rate today.
"Mortgage rates were subdued last week as ongoing geopolitical concerns and economic softness in Europe encouraged investors to buy U.S. mortgage-backed securities as a safe haven," said Erin Lantz, vice president of mortgages at Zillow. "This week, we expect international headlines, rather than U.S. economic data, to drive any meaningful changes to mortgage rates."
Additionally, the 15-year fixed mortgage rate this morning was 3.12 percent, and for 5/1 ARMs, the rate was 2.77 percent.
Purchase Mortgage Application Activity: Zillow predicts tomorrow's seasonally adjusted Mortgage Bankers Association Weekly Application Index will show purchase loan activity to decrease by 2 percent from the week prior. 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.