30-Year Fixed Mortgage Rate Continues to Rise for Third Consecutive Week
Mortgage rates for 30-year fixed mortgages rose this week, with the current rate borrowers were quoted on Zillow Mortgage Marketplace at 3.44 percent, up from 3.42 percent at this same time last week.
The 30-year fixed mortgage rate hovered between 3.43 and 3.48 percent for the majority of the week, dropping to the current rate this morning.
“Despite an unexpected increase in the unemployment rate, rates ended the week essentially unchanged,” said Erin Lantz, director of Zillow Mortgage Marketplace. “This coming week, we expect rates to remain fairly flat with limited economic news that might change the consensus that the economy is recovering, but at a slow and cautious pace.”
*The weekly rate chart illustrates the average 30-year fixed interest rate in six-hour intervals.