Zillow: FRMs Rise to 3.61 Percent

The 30-year fixed-rate mortgage (FRM) on Zillow Mortgages is currently 3.61 percent, up eight basis points from this time last week. The 30-year FRM rose early in the week then hovered around 3.60 percent before rising to the current rate Tuesday.

“Rates were essentially flat last week, remaining in the range they have been in for the past month,” said Erin Lantz, vice president of mortgages at Zillow. “This week, we expect little rate movement leading up to Wednesday’s Q1 GDP data release and the Fed Statement later that day, which has the potential to raise rates if incoming data are unexpectedly strong.”  

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 at 2.84 percent, and the rate for a 5-1 adjustable-rate mortgage (ARM) is also 2.84 percent.