Mortgage rate update - March 29

mortgage rate update
mortgage rate update

Current mortgage rates for 30-year fixed mortgages fell this week, with the current rate borrowers were quoted on Zillow at 3.53 percent, down 1 basis point from last week.

The 30-year fixed mortgage hovered around 3.55 percent for most of the week before dipping to the current rate.

"Mortgage rates were essentially flat last week," said Erin Lantz, vice president of mortgages at Zillow. "But volatility could return this week as markets look toward Friday's monthly jobs report and an important speech by Fed Chair Janet Yellen midweek."

Additionally, the 15-year fixed mortgage rate was 2.73 percent, and for 5/1 ARMs, the rate was 2.76 percent.

Check Zillow 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.

Related: 10 tiny homes for retirees

*The weekly mortgage rate chart illustrates the average 30-year fixed interest rate in six-hour intervals.

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Originally published