30-Year Fixed Mortgage Rate Continues to Rise

Mortgage rates for 30-year fixed mortgages rose this week, with the current rate borrowers were quoted on Zillow Mortgage Marketplace at 3.26 percent, up from 3.18 percent at this same time last week.

The 30-year fixed mortgage rate hovered between 3.18 and 3.28 percent for the majority of the week, dropping to the current rate this morning.

“Mortgage rates rose slightly at the end of last week following the release of the Federal Open Market Committee’s meeting minutes and a stronger than expected jobs report,” said Erin Lantz, director of Zillow Mortgage Marketplace. “This week, we expect rates to remain fairly steady since we do not foresee any new announcements that have the potential to offset the optimistic tone set by last week’s employment figures.”

Additionally, the 15-year fixed mortgage rate this morning was 2.63 percent, and for 5/1 ARMs, the rate was 2.52 percent.

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

*The weekly rate chart illustrates the average 30-year fixed interest rate in six-hour intervals.