The 30-year fixed mortgage rate on Zillow Mortgage Marketplace is currently 4.49 percent, up four basis points from 4.45 percent at this time last week. The 30-year fixed mortgage rate steadily rose early last week, peaking at 4.62 percent on Thursday before dropping near the current rate on Friday.
“Rates hovered near two-year highs last week, but Friday’s weaker-than-expected employment results drove rates back down, erasing earlier gains,” said Erin Lantz, director of Zillow Mortgage Marketplace. “This coming week, we expect rates to remain fairly stable unless developments in Syria rile markets or end-of-the-week economic reports are exceedingly positive.”
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 3.45 percent, while the rate for a 5-1 adjustable-rate mortgage (ARM) is 3.15 percent.