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Black Friday Deals in the Mortgage Department: Rates Hit Lowest Levels in 19 Months

Dec 02, 2014

The 30-year fixed-rate mortgage (FRM) on Zillow Mortgages is currently at 3.76 percent, down one basis point from this time last week. The 30-year fixed mortgage hovered around 3.75 percent last week before settling at the current rate.

"Rates continued to slide last week, and are now down more than a half of a percentage point from their mid-September peak," said Erin Lantz, vice president of mortgages at Zillow. "Strong economic data suggests rates should move higher, but weak demand for new loans has kept rates
low. This week we expect to see some volatility as markets react to Friday's job report, but anticipate rates to increase modestly by week's end."

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 2.97 percent, while the rate for a 5-1 adjustable-rate mortgage (ARM) is 2.76 percent.

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