Zillow Reports That 30-Year Fixed Rates Are Up Three Basis Points

The 30-year fixed mortgage rate on Zillow Mortgage Marketplace is currently 4.04 percent, up three basis points from this time last week. The 30-year fixed mortgage rate peaked at 4.12 percent on Thursday before dropping to 4.03 percent on Friday, where rates hovered for the remainder of the week. "Mortgage rates were flat last week as two highly anticipated announcements, the European Central Bank's stimulus plan and the latest U.S. employment report, confirmed the outcomes the markets were expecting," said Erin Lantz, vice president of mortgages at Zillow. "Next week there is a limited number of market-moving news or events scheduled, so we expect rates to remain stable." 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 3.03 percent, while the rate for a 5-1 adjustable-rate mortgage (ARM) is 2.78 percent.