Zillow: Fixed Mortgage Rates Down to 3.4 Percent

The 30-year fixed mortgage rate on Zillow Mortgage Marketplace is currently 3.4 percent, down six basis points from 3.46 percent at this same time last week. The 30-year fixed mortgage rate hovered between 3.42 and 3.47 percent for the majority of the week, dropping to the current rate this morning. “After remaining steady for the past week, rates moved slightly lower yesterday after Italian election results renewed concerns about Eurozone economic stability,” said Erin Lantz, director of Zillow Mortgage Marketplace. “This coming week, rate movement will depend on sequester discussions in the United States, and perceived political tensions in Italy and elsewhere in the European Union." The rate for a 15-year fixed home loan is currently 2.64 percent, while the rate for a 5-1 adjustable-rate mortgage (ARM) is 2.27 percent.