30-Year Fixed Mortgage Rates Rise for Third Consecutive Week
Mortgage rates for 30-year fixed mortgages rose this week, with the current rate borrowers were quoted on Zillow Mortgage Marketplace at 4.31 percent, up from 4.28 percent at this same time last week.
The 30-year fixed mortgage rate hovered between 4.2 and 4.27 percent early last week before rising to the current rate this morning.
"Rates remained steady for the second week in a row, alleviating some concerns that they would continue the upward surge that began early this summer," said Erin Lantz, director of Zillow Mortgage Marketplace. "This week, although we expect continued volatility, we expect rates will remain fairly steady until a clearer picture emerges about the strength of the U.S. economic recovery."
Additionally, the 15-year fixed mortgage rate this morning was 3.32 percent, and for 5/1 ARMs, the rate was 3.16 percent.
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