30-Year Fixed Mortgage Rate Hits Seven Month High; Current 30-Year Fixed Rate is 4.73%

Date:December 28, 2010 | Author: | Category:Home Mortgage

Mortgage rates for 30-year fixed mortgages rose this week, with the current rate borrowers were quoted on Zillow Mortgage Marketplace at 4.73 percent, up from 4.68 percent at this same time last week. This is the highest average rate reported on Zillow Mortgage Marketplace in 32 weeks. The last time rates reached this level was May 18, 2010.

The 30-year fixed mortgage hovered near 4.7 percent for the majority of the week, peaking on Monday at 4.75 percent before falling to the current rate.

Additionally, the 15-year fixed mortgage rate on Tuesday morning was 4.09 percent and for 5/1 ARMs, the rate was 3.29 percent.

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