30-Year Fixed Mortgage Rate Remains Fairly Flat
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 3.24 percent at this same time last week.
The 30-year fixed mortgage rate hovered between 3.23 and 3.3 percent for the majority of the week, rising to the current rate this morning.
“Despite a stronger-than-expected jobs report this past week, rates stayed fairly flat, largely because of a shortened trading week and other concerns in the aftermath of Hurricane Sandy that spurred continued safe-haven buying of mortgage-backed securities,” said Erin Lantz, director of Zillow Mortgage Marketplace. “This coming week, domestic economic news will be limited due to the U.S. presidential election. However, headlines out of Greece could drive more rate volatility if the Greek government faces increasing opposition to the labor market reforms needed to receive International Monetary Fund and European Union bailout funds.”
*The weekly rate chart illustrates the average 30-year fixed interest rate in six-hour intervals.