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30-Year Fixed Mortgage Rate Hits New Record Low; Current 30-Year Fixed Rate is 4.37%

Date:July 20, 2010 | Author:Lauren Riefflin | Category:Mortgages

Mortgage rates for 30-year fixed mortgages fell this week, with the current rate borrowers were quoted on Zillow Mortgage Marketplace at 4.37 percent, down from 4.49 percent at this same time last week. This rate represents the lowest rate reported since Zillow Mortgage Marketplace launched in April 2008.

The 30-year fixed mortgage rate peaked at 4.47 percent on Wednesday, and then hovered near 4.40 percent for the remainder of the week.

Additionally, the 15-year fixed mortgage rate on Tuesday morning was 3.89 percent and for 5/1 ARMs, the rate was 3.37 percent.

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

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Responses (2)

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Nas Erakat Hayward Real Estate 7:28 AM - Jul 21,2010

It’s such a great time to buy but most people are not able to get the financing. I think that the Rates will go up once you start seeing more and more people getting approved.
Brad Carroll - Dakno 11:11 AM - Jul 21,2010

Looking at the big picture, this is better news than the 8K tax credit. Lower interest rates can end up saving people much more in the long run (provided they stay in the home long enough). Yet few agents are really talking about that. Funny how perception and marketing play such important roles.