30-Year Fixed Mortgage Rate Plummets 13 Basis Points to Lowest Rate Since January 2011

Mortgage rates for 30-year fixed mortgages fell this week, with the current rate borrowers were quoted on Zillow Mortgage Marketplace at 4.58 percent, down from 4.71 percent at this same time last week. The last time the 30-year fixed rate was at 4.58 percent was on January 11, 2011.

The 30-year fixed mortgage rate hovered near 4.65 percent for the majority of the week, reaching 4.68 percent on Monday before falling to the current rate.

Additionally, the 15-year fixed mortgage rate on Tuesday morning was 3.77 percent and for 5/1 ARMs, the rate was 2.99 percent.

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