Zillow Reports Mortgage Rates Hold Steady Amid Fed Announcements

The 30-year fixed-rate mortgage (FRM) as reported by Zillow Mortgages is currently at 4.13 percent, down six basis points from this time last week. The 30-year FRM hovered around 4.17 percent for most of the week, peaking at 4.28 percent on Saturday before easing down to its current rate. “Mortgage rates were mostly flat last week after the Fed offered reassurance that they would not accelerate the wind-down of the stimulus program,” said Erin Lantz, vice president of mortgages at Zillow. “With uncertainty about the Fed’s plans dismissed, we expect rates will remain steady throughout the coming week.” Zillow’s real-time mortgage rates are based on thousands of custom mortgage quotes submitted daily to anonymous borrowers on the Zillow Mortgages 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 FRM is currently at 3.18 percent, while the rate for a 5-1 adjustable-rate mortgage (ARM) is 2.97 percent.