Skip to main content

Zillow: Fixed-Rates Take Nosedive to 4.17 Percent

NationalMortgageProfessional.com
Sep 24, 2013

The 30-year fixed mortgage rate on Zillow Mortgage Marketplace is currently 4.17 percent, down 21 basis points from 4.38 percent at this time last week. The 30-year fixed mortgage rates fell sharply Wednesday to 4.24 percent and remained relatively stable for the majority of the week before dropping to the current rate this morning. In just two weeks, 30-year fixed mortgage rates have dropped a total of 32 basis points. “Rates plunged to levels not seen since mid-June after the Federal Reserve surprised many by announcing plans to wait for signs of stronger economic growth before scaling back its stimulus program,” said Erin Lantz, director of mortgages at Zillow. “Next week, we expect rates to remain fairly flat as markets continue to digest the Fed’s announcement and look for particularly strong or surprisingly weak economic data before making major changes.” 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 3.19 percent, while the rate for a 5-1 adjustable-rate mortgage (ARM) is 2.96 percent.
Published
Sep 24, 2013
MBA Swears In New Officers For 2021-22

Kristy Fercho, executive vice president and head of home lending at Wells Fargo, is the new chairman.

Industry News
Oct 18, 2021
Wemlo Introduces Third-Party Processing Solution

Wemlo announced the first third-party mortgage processing solution, Loan Brokering System.

Tech
Oct 18, 2021
Nationwide Mortgage Bankers Names New COO

Nate Hernandez was named chief operating officer for Nationwide Mortgage Bankers.

Industry News
Oct 18, 2021
ICE Unveils Transaction-Based Indices For Residential Mortgage Interest Rates

Intercontinental Exchange Inc. launched its suite of U.S. residential mortgage locked rate indices.

Tech
Oct 18, 2021
ChainLogix Appoints New Vice President, Operations

Jeryl Graham hired to accelerate growth in title & mortgage services.

Industry News
Oct 15, 2021
JPMorgan Chase To Commit $8.4M To Improve Household Stability For The Underserved

JPMorgan Chase announced six organizations that will receive philanthropic capital as part of the firm’s $400 million five-year commitment to improve housing affordability and stability for Black, Hispanic and Latino, and other underserved households.

Community
Oct 15, 2021