30-Year Fixed Mortgage Rates Rise Slightly
Mortgage rates for 30-year fixed mortgages rose this week, with the current rate borrowers were quoted on Zillow Mortgage Marketplace at 4.24 percent, up from 4.2 percent at this same time last week.
After peaking at 4.32 percent on Thursday, the rate fluctuated between 4.25 and 4.3 percent over the remainder of the week before dropping to the current rate this morning.
"Rates remained fairly flat this week with a short-lived surge spurred by a stronger-than-expected new home sales report late last week," said Erin Lantz, director of Zillow Mortgage Marketplace. "This coming week, although there is a full schedule of economic news planned for release, we expect rates to remain steady until a clearer picture of economic health emerges."
Additionally, the 15-year fixed mortgage rate this morning was 3.28 percent, and for 5/1 ARMs, the rate was 3.19 percent.
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