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Fixed-Rates Rise Slightly, Still Remain Under 4.20 Percent

Oct 09, 2013

The 30-year fixed mortgage rate on Zillow Mortgage Marketplace is currently 4.11 percent, up three basis points from 4.08 percent at this time last week. The 30-year fixed mortgage rates hovered between 4.09 and 4.06 percent for the majority of the week before rising to the current rate this morning. “Last week, rates were essentially unchanged as the government shutdown postponed release of much of the economic data that guides markets,” said Erin Lantz, director of mortgages at Zillow. “This coming week, we expect rates will remain paralyzed until the impasse in Washington is resolved and economic data can be released.” 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 3.17 percent, while the rate for a 5-1 adjustable-rate mortgage (ARM) is 2.92 percent.
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