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The 30-year fixed mortgage rate on Zillow Mortgages is currently 3.66 percent, up 10 basis points from this time last week. The 30-year fixed-rate rose mortgage (FRM) through most of the week, peaking at 3.73 percent on Monday before returning to the current rate.
“Strong U.S. economic data pushed mortgage rates up last week, overcoming any potential headwinds from continued turmoil in Europe that would’ve pushed rates down,” said Erin Lantz, vice president of mortgages at Zillow. “We expect rates will move slightly higher this week as international headlines should again dominate market movements in this data-sparse week.”
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 2.93 percent, while the rate for a 5-1 adjustable-rate mortgage (ARM) is three percent.