Zillow: Mortgage Rates Hit Seven-Month High

May 12, 2015

The 30-year fixed-rate mortgage (FRM) on Zillow Mortgages is currently 3.82 percent, up nine basis points from this time last week. The 30-year FRM fell Friday, then hovered around 3.69 percent before rising to the current rate on Monday.

“Rates surged over the past week due to strong European data,” said Erin Lantz, vice president of mortgages at Zillow. “Looking ahead, we expect mortgage rates to continue to their gradual march upward.”

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 2.98 percent, while the rate for a 5-1 adjustable-rate mortgage (ARM) is 2.78 percent.

About the author

NationalMortgageProfessional.com

Link copied

Published

May 12, 2015

Analysis and Data

Homeownership Slips Further Away For Californians

Only 18% of Californians could afford a median-priced home in 2024, with affordability gaps persisting across ethnic groups

Buying a home in California became even harder across all ethnic groups last year, as surging mortgage costs pushed affordability further out of reach, according to the California Association of Realtors (C.A.R.). Only 18% of Californians earned enough to purchase the sta...

Analysis and Data

Mr. Cooper Shrinks Originations But Strengthens Borrower Retention Ahead Of Rocket Merger

Loan production fell 10% in Q1, but purchase share climbed and borrower recapture hit 51% amid broader strategic realignment

Mr. Cooper Group reported first-quarter 2025 results that reflect a mixed environment for mortgage production and servicing, as the company emphasized operational stability and strategic expansion despite a slowdown in origination volume. Loan Production Mr. Cooper fun...