Thirty-Year Rates Hit 3.34 Percent

The 30-year fixed mortgage rate on Zillow Mortgage Marketplace is currently 3.34 percent, down one basis point from 3.35 percent at this same time last week. The 30-year fixed mortgage rate hovered between 3.41 and 3.32 percent for the majority of the week, dropping to the current rate this morning. “Rates fell slightly this past week after lower-than-expected retail sales numbers raised concerns about softening consumer confidence,” said Erin Lantz, director of Zillow Mortgage Marketplace. “We expect mortgage rates will remain depressed this week due to apprehension related to the Boston Marathon bombing and threats from North Korea.” The rate for a 15-year fixed home loan is currently 2.55 percent, while the rate for a 5-1 adjustable-rate mortgage (ARM) is 2.32 percent.