Zillow Reports Fixed-Rates Remain Steady for the Week
The 30-year fixed mortgage rate on Zillow Mortgages is currently 4.03 percent, down one basis point from this time last week. The 30-year fixed mortgage rate spiked early last week, peaking at 4.23 percent on Thursday before easing back down to the current rate on Friday. “Last week, mortgage rates temporarily jumped to the highest level in more than a month on the back of strong GDP growth figures, before cooling after weaker-than-expected jobs news,” said Erin Lantz, vice president of mortgages at Zillow. “This week we expect rates to remain steady, with limited influential domestic data slated for release.” 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 3.07 percent, while the rate for a 5-1 adjustable-rate mortgage (ARM) is 2.77 percent.