Zillow: Fixed-Rates Slide to 3.37 Percent

The 30-year fixed mortgage rate on Zillow Mortgage Marketplace is currently 3.37 percent, down three basis points from 3.4 percent at this same time last week. The 30-year fixed mortgage rate remained fairly flat this week hovering between 3.4 and 3.35 percent, dropping to the current rate this morning. “Rates dropped slightly last week as Euro zone concerns offset strong domestic economic data,” said Erin Lantz, director of Zillow Mortgage Marketplace. “We anticipate rates to remain fairly flat this week, unless employment data comes out much stronger expected.” Zillow’s real-time mortgage rates are based on thousands of custom mortgage quotes submitted daily to anonymous borrowers on the Zillow Mortgage Marketplace site, and reflect the most recent changes in the market. These are not marketing rates, or a weekly survey. The rate for a 15-year fixed home loan is currently 2.6 percent, while the rate for a 5-1 adjustable-rate mortgage (ARM) is 2.23 percent.