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The 30-year fixed-rate mortgage (FRM) on Zillow Mortgages is currently 3.79 percent, up two points from this time last week. The 30-year FRM fell on Thursday, then hovered around 3.78 percent before rising to the current rate on Tuesday.
“Despite some volatility early on as markets parsed typically unimportant data for signals of the Fed’s first rate hike, mortgage rates remained flat with lenders focused on the Memorial Day holiday,” said Erin Lantz, vice president of mortgages at Zillow. “We expect these ups-and-downs to continue this 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 FRM is currently 2.96 percent, while the rate for a 5-1 adjustable-rate mortgage (ARM) is 2.91 percent.