Mortgage rates for 30-year fixed mortgages fell this week, with the current rate borrowers were quoted on Zillow Mortgage Marketplace at 3.35 percent, down from 3.42 percent at this same time last week.

This represents the lowest rate reported since Zillow Mortgage Marketplace launched in April 2008. The previous low was 3.39 percent, first reported on July 10. After peaking at 3.44 percent on Friday, the 30-year fixed mortgage rate dropped and hovered between 3.35 and 3.4 percent over the weekend, dropping to the current rate this morning.

“Rates dropped to a new low this week on concerns about Spain’s deteriorating economy coupled with Moody’s downgrade of the stronger eurozone countries,” said Erin Lantz, director of Zillow Mortgage Marketplace. “This coming week, we expect rates to hover at record lows as investors remain concerned about eurozone economic stability and continue to flock to the relative safety of U.S. Treasuries and mortgage-backed securities.”

Additionally, the 15-year fixed mortgage rate this morning was 2.8 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 in six-hour intervals.

About the Author

Camille writes about housing trends for the Zillow Blog.

You also might like...

Source: Zillow Digs

Selling a Home in 2015: 5 Resolutions for Success

Source: Zillow Digs

Real Estate Q&A: Buying a Home as an Investment

Source:  Michael Gil  via  Flickr Creative Commons

Your Legal Rights Against Holiday Noise and Lights

Source:  Kool Cats Photography   via  Flickr Creative Commons

Get to Know the 3 Types of Mortgage Lenders

Subscribe for Zillow Blog updates

We will not rent, share or spam your account, ever. Please read and review our privacy policy.

You can also stay updated by following us below

instagram googleplus pinterest