30-Year Fixed Mortgage Rate Rises to Highest Point in 6 Weeks
Mortgage rates for 30-year fixed mortgages rose this week, with the current rate borrowers were quoted on Zillow Mortgage Marketplace at 3.44 percent, up from 3.34 percent at this same time last week.
After dipping below 3.4 percent early last week, the 30-year fixed mortgage rate remained flat over the weekend, rising to the current rate this morning.
“Although there were a number of events this past week with the potential to move markets — announcements from the Fed and the European Central Bank as well as Friday’s jobs report — rates ended the week up only slightly from where they started,” said Erin Lantz, director of Zillow Mortgage Marketplace. “In fact, this marks the eighth straight week in which rates hovered in the very narrow band between 3.34 percent and 3.5 percent.
“Looking to next week, we expect rates will remain in this holding pattern until markets receive more clarity about the future of the eurozone economy,” Lantz added.