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Zillow: Fixed-Rates Hit 4.24 Percent

NationalMortgageProfessional.com
Jul 30, 2013

The 30-year fixed mortgage rate on Zillow Mortgage Marketplace is currently 4.24 percent, up four basis points from 4.2 percent at this time last week. After peaking at 4.32 percent on Thursday, the rate fluctuated between 4.25 and 4.3 percent over the remainder of the week before dropping to the current rate this morning. “Rates remained fairly flat this week with a short-lived surge spurred by a stronger-than-expected new home sales report late last week,” said Erin Lantz, director of Zillow Mortgage Marketplace. “This coming week, although there is a full schedule of economic news planned for release, we expect rates to remain steady until a clearer picture of economic health emerges.” 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 3.28 percent, while the rate for a 5-1 adjustable-rate mortgage (ARM) is 3.19 percent.
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