30-Year Fixed Mortgage Rates Decline for Second Consecutive Week

Mortgage rates for 30-year fixed mortgages fell this week, with the current rate borrowers were quoted on Zillow Mortgage Marketplace at 4.20 percent, down from 4.26 percent at this same time last week.

The 30-year fixed mortgage rate fluctuated between 4.18 and 4.28 percent early last week, leveling out near the current rate on Friday.

“Last week rates were fairly flat as Fed Chairman Ben Bernanke reiterated his commitment to scale back the Fed’s stimulus program, provided that economic fundamentals continue to improve,” said Erin Lantz, director of Zillow Mortgage Marketplace. “This coming week there are limited data releases or news events on the calendar, so we expect rates to remain essentially unchanged.”

Additionally, the 15-year fixed mortgage rate this morning was 3.29 percent, and for 5/1 ARMs, the rate was 3.23 percent.

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

07-23-13 0945AM

*The weekly rate chart illustrates the average 30-year fixed interest rate in six-hour intervals.