Mortgage Rates Edge Downward to 3.77%

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 current rate borrowers were quoted on Zillow Mortgages at 3.77 percent, down 5 basis points from the same time last week.

The 30-year fixed mortgage rate fell early in the week, then hovered around 3.71 percent before rising to the current rate on Tuesday. Hawaii saw 30-year fixed rates as low as 3.67 percent.

"Rates fell late last week as a string of weak data raised concerns about the underlying strength of the U.S. economy," said Erin Lantz, vice president of mortgages at Zillow. "This week markets will look to a few Fed speeches and minutes from April's Federal Open Market Committee meeting for further guidance."

Additionally, the 15-year fixed mortgage rate was 2.91 percent, For 5/1 ARMs, the rate was 2.84 percent.

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

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