30-Year Fixed Mortgage Rate Falls to New Record Low After Rising for Two Straight Weeks

Mortgage rates for 30-year fixed mortgages fell this week, with the current rate borrowers were quoted on Zillow Mortgage Marketplace at 4.25 percent, down from 4.32 percent at this same time last week. This rate represents the lowest rate recorded since Zillow Mortgage Marketplace launched in April 2008.

The 30-year fixed mortgage rate peaked at 4.35 percent on Saturday and hovered near 4.33 percent before falling on Monday to the current rate.

Additionally, the 15-year fixed mortgage rate on Tuesday morning was 3.73 percent and for 5/1 ARMs, the rate was 3.13 percent.

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