30-Year Fixed Mortgage Rate Rises to Highest Level in Six Weeks
Mortgage rates for 30-year fixed mortgages rose this week, with the current rate borrowers were quoted on Zillow Mortgage Marketplace at 3.99 percent, up from 3.76 percent at this same time last week. This rate represents the highest rate recorded on Zillow Mortgage Marketplace since August 30, 2011.
“Better than expected September employment figures lifted rates to a six week high, offsetting some of the downward pressure that the European debt crisis has exerted on rates over the past weeks,” said Erin Lantz, director of Zillow Mortgage Marketplace.
The 30-year fixed mortgage rate rose to 4 percent last Friday, and then hovered between 4.01 and 3.97 percent for the remainder of the week.