30-Year Fixed Rates Hover at Near All-Time Low of 3.25 Percent

The 30-year fixed mortgage rate on Zillow Mortgage Marketplace is currently 3.25 percent, down six basis points from 3.31 percent at this same time last week. This represents the lowest rate since Jan. 15. The 30-year fixed mortgage rate hovered between 3.33 and 3.28 percent for the majority of the week, before dropping to the current rate this morning. “Mortgage rates saw little movement this week and continue to hover near historic lows,” said Erin Lantz, director of Zillow Mortgage Marketplace. “This coming week, we expect rates to remain unchanged unless Wednesday’s Federal Open Market Committee statement or Friday’s unemployment report offer unexpected news.” 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 2.49 percent, while the rate for a 5-1 adjustable-rate mortgage (ARM) is 2.24 percent.