Mortgage Rates Settle Back to 3.75%

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 rose slightly this week, with the current rate borrowers were quoted on Zillow at 3.75 percent Tuesday, up three basis points from last week.

The 30-year fixed rate rose higher during the week before dipping to the current rate.

"Mortgage rates spiked late last week after the European Central Bank surprised markets by not expanding its asset purchase program, which aims to push rates lower," said Erin Lantz, vice president of mortgages at Zillow. "Following that spike, rates have retreated to only slightly above where they began the week. We expect markets to be quieter this week with few important data releases or speeches on the schedule."

Additionally, the 15-year fixed mortgage rate was 2.91 percent. For 5/1 ARMs, or adjustable rate mortgages, the rate was 2.92 percent.

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

Read Full Story

Can't get enough real estate news?

Sign up for Finance Report by AOL and get everything from celebrity homes to renovation tricks 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 home

Buy
Rent
Value
Powered by Zillow