Rates Begin to Level on Zillow Marketplace

The 30-year fixed mortgage rate on Zillow Mortgages is currently 4.08 percent, up two basis points from this time last week. The 30-year fixed mortgage rate rose early last week, peaking at 4.23 percent on Wednesday before falling to the current rate on Tuesday. “Mortgage rates inched up early last week during a brief reprieve from worrisome geopolitical headlines, before easing back down and stabilizing for the remainder of the week,” said Erin Lantz, vice president of mortgages at Zillow. “This week, Thursday’s GDP data has the most potential to move markets, which could cause rates to rise or fall depending on how it meets expectations.” 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 fixed home loan is currently 3.15 percent, while the rate for a 5-1 adjustable-rate mortgage (ARM) is 2.92 percent.