Skip to main content

Zillow: Fixed-Rates Drop to Seven-Week Low

NationalMortgageProfessional.com
Jul 28, 2015
White House Sale/Credit: eskaylim

The 30-year fixed rate mortgage (FRM) on Zillow Mortgages is currently 3.83 percent, down eight basis points from this time last week. The 30-year FRM moved lower throughout the week before settling at the current rate on Tuesday.

“Mortgage rates fell last week to their lowest level since early June,” said Erin Lantz, vice president of mortgages at Zillow. “There is potential for increased rate volatility this week as markets look to Wednesday’s Federal Open Market Committee statement and Thursday’s GDP report. Rates could move back up if the data are stronger than expected.”

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 2.97 percent, while the rate for a 5-1 adjustable-rate mortgage (ARM) is 2.84 percent.  

Zillow predicts Wednesday's seasonally adjusted Mortgage Bankers Association Weekly Application Index will show purchase loan activity fell by 13 percent from the week prior. Zillow combines loan requests made on Zillow Mortgages last week with the previous week’s Mortgage Bankers Association Weekly Application Index to predict the MBA’s Weekly Application Index for purchase loans, which will be released tomorrow.

Angel Oak Mortgage Announces Initial Public Offering

Angel Oak Mortgage announced its initial public offering of 7,200,000 shares of its common stock at $19 per share.

Industry News
Jun 17, 2021
Mortgage Apps Rebound After Three Consecutive Weeks Of Declines

The Mortgage Bankers Association reported the first increase in mortgage applications after a three consecutive weeks on declines.

Industry News
Jun 17, 2021
CFPB New Rule Prevents Predatory Lending To Military Service Members

The CFPB stipulates its authority to examine supervised financial institutions for risk to active duty servicemembers and their dependents.

Industry News
Jun 16, 2021
Inventory Begins A Slow Recovery

Inventory grew 3.9% from April to May, according to Zillow's latest Market Report, after a year of steady decline.

Industry News
Jun 16, 2021
Mortgage Lenders Expect Profit Margins To Shrink

69% of lenders believe profit margins will decrease in the months ahead, while 19% believe profits will remain the same, and 11% believe profits will increase.

Industry News
Jun 14, 2021
Real Estate Industry Calls To End Eviction Moratorium On June 30, 2021

Expanding the moratorium will only increase levels of debt on renter households and impede the recovery of the housing sector.

Industry News
Jun 14, 2021