Fed's Decision to Delay Rate Hike Keeps Mortgage Rates Low

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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 rate borrowers were quoted on Zillow Mortgages at 3.73 percent Tuesday, down two basis points from last week.

The 30-year fixed mortgage rate fell to 3.67 percent on Friday before rising to Tuesday's rate.

"Mortgage rates fell last week to their lowest levels since early May after the Fed deferred its first rate hike yet again," said Erin Lantz, vice president of mortgages at Zillow. "We expect rates to be mostly stable this week now that the uncertainty about the Fed's decision has subsided."

Additionally, the 15-year fixed mortgage rate was 2.89 percent. For 5/1 adjustable rate mortgages, the rate was 2.71 percent.

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

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