National 30-Year Fixed Mortgage Rate Falls to Six-Month Low: 4.70%

Mortgage rates for 30-year fixed mortgages fell this week, with the current rate borrowers were quoted on Zillow Mortgage Marketplace at 4.70%, down from 4.79% at this same time last week. The 30-year fixed mortgage rate spiked early Friday to around 4.82 percent before falling to 4.70 today.  The last time the 30-year fixed mortgage rate was this low was in early December 2009.

Half of a percentage point in a 30-year fixed loan can save the buyer of a $300,000 home more than $26,000 over the life of the loan.

Additionally, the 15-year fixed mortgage rate on Tuesday morning was 4.13% and for 5/1 ARMs, the rate was 3.44%.

What are the rates right now? Check Zillow Mortgage Marketplace for up-to-the-minute mortgage rates for your state.