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Zillow Reports Fixed Rates Still Hovering Around the Four Percent Mark

NationalMortgageProfessional.com
Aug 12, 2014

The 30-year fixed-rate mortgage (FRM) on Zillow Mortgages is currently 4.08 percent, up five basis points from this time last week. The 30-year fixed mortgage rate hovered around 4.10 percent for the majority of the week, peaking at 4.17 percent on Thursday before easing back down to the current rate. “Mortgage rates were subdued last week as ongoing geopolitical concerns and economic softness in Europe encouraged investors to buy U.S. mortgage-backed securities as a safe-haven,” said Erin Lantz, vice president of mortgages at Zillow. “This week, we expect international headlines, rather than U.S. economic data, to drive any meaningful changes to mortgage rates.” 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 3.12 percent, while the rate for a 5-1 adjustable-rate mortgage (ARM) is 2.77 percent. 
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