Zillow Mortgage Rates Fall to 3.58%

Before you go, we thought you'd like these...
Before you go close icon
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 mortgages fell this week, with the rate borrowers were quoted on Zillow Mortgages at 3.58 percent, down from 3.72 percent at this time last week.

The 30-year fixed mortgage rate rose early in the week, peaking at 4.03 percent on Friday before falling to the current rate.

"Rates fell dramatically last week primarily due to fears of slowing global growth, weak equity markets, falling oil prices and low market activity over the New Year's holiday," said Erin Lantz, vice president of mortgages at Zillow. "Given the recent history of markets largely overlooking strong U.S. data, we expect rates to remain flat or fall slightly this week on international news."

Additionally, the 15-year fixed mortgage rate Tuesday morning was 2.88 percent. For 5/1 ARMs, the rate was 2.71 percent.

What are the interest rates right now? Check Zillow Mortgages for mortgage rate trends and up-to-the-minute mortgage rates for your state.

To check on the home loan you might be able to afford, try the mortgage payment and affordability calculators found here.

Read Full Story

Want more news like this?

Sign up for Finance Report by AOL and get everything from business news to personal finance tips delivered directly to your inbox daily!

Subscribe to our other newsletters

Emails may offer personalized content or ads. Learn more. You may unsubscribe any time.

Find a New Home

Buy
Rent
Value
Powered by Zillow

From Our Partners

Man Built This Contraption In His Backyard - And Even He Was Surprised How Well It Worked Man Built This Contraption In His Backyard - And Even He Was Surprised How Well It Worked
This Elephant Was Separated From Her Mother As A Baby - But She's About To Get A Huge This Elephant Was Separated From Her Mother As A Baby - But She's About To Get A Huge
19 of the Creepiest, Most Inexplicable Things People Ever Experienced 19 of the Creepiest, Most Inexplicable Things People Ever Experienced