The 30-year fixed mortgage rate on Zillow Mortgages is currently 3.95 percent, up seven points from this time last week. The 30-year fixed mortgage rate rose late in the week, then hovered around 3.98 percent before dipping to the current rate.
“Mortgage rates increased late last week as fears of a Greek euro exit and a Chinese stock market collapse eased,” said Erin Lantz, vice president of mortgages at Zillow. “We expect less volatility this week with markets focusing more on domestic news, especially Fed Chair Janet Yellen’s Congressional testimony.”
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 3.04 percent, while the rate for a 5-1 adjustable-rate mortgage (ARM) is 2.91 percent.