The 30-year fixed mortgage rate on Zillow Mortgage Marketplace is currently 4.23 percent, unchanged from this time last week. The 30-year fixed mortgage rate increased slightly to 4.26 percent early last week before dropping down to 4.23 percent on Thursday where rates hovered for the remainder of the week.
"Last week, rates reached six-week lows after modestly positive economic data was not enough to offset the effects of the disappointing December jobs report," said Erin Lantz, director of mortgages at Zillow. "Although the jobs report presents a temporary reprieve from the longer-term upward trend, looking ahead we expect rates will continue to gradually rise as the economy improves."
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 3.21 percent, while the rate for a 5-1 adjustable-rate mortgage (ARM) is 2.82 percent.