Mortgage rates for 30-year fixed mortgages rose this week, with the current rate borrowers were quoted on Zillow Mortgage Marketplace at 3.86 percent, up from 3.8 percent at this same time last week.
The 30-year fixed mortgage rate hovered between 3.82 percent and 3.85 percent for the majority of the week, peaking at 3.93 percent yesterday before dropping to the current rate.
“Talk of a possible third round of economic stimulus and some optimism around progress in European Union debt purchase plans spiked interest rates on Monday,” said Erin Lantz, director of Zillow Mortgage Marketplace. “However, that spike has already been offset as of Tuesday morning, and we expect continued volatility as we await news from Europe and the Federal Reserve in the coming weeks.”
Additionally, the 15-year fixed mortgage rate this morning was 3.21 percent and for 5/1 ARMs, the rate was 2.68 percent.
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