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The 30-year fixed-rate mortgage (FRM) on Zillow Mortgages currently sits at 3.57 percent, down one basis point from this time last week. The 30-year FRM hovered around 3.64 percent, falling to 3.52 percent on Saturday before returning to the current rate.
“Though rates fluctuated slightly last week, they settled back around the 19-month lows not seen since May 2013,” said Erin Lantz, vice president of mortgages at Zillow. “It’s hard to see rates staying this low, and we expect rates to be flat or rise slightly this week on higher demand, particularly as refinancing activity picks up.”
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 2.87 percent, while the rate for a 5-1 adjustable-rate mortgage (ARM) is 2.67 percent.