Zillow: Fixed-Rates Back on the Rise

The 30-year fixed-rate mortgage (FRM) on Zillow Mortgages is currently 3.62 percent, up six basis points from this time last week. The 30-year FRM rose early in the week, then hovered around 3.65 percent before returning to the current rate on Tuesday.

“Rates increased last week on strong economic data from both the U.S. and Europe,” said Erin Lantz, vice president of mortgages at Zillow. “This week, we expect some volatility as markets hold their breath for Friday’s monthly jobs report.”

Zillow’s real-time 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.

The rate for a 15-year FRM is currently 2.87 percent, while the rate for a 5-1 adjustable-rate mortgage (ARM) is 2.75 percent.