Mortgage rates for 30-year fixed mortgages fell this week, with the current rate borrowers were quoted on Zillow Mortgages at 3.67 percent, down 10 basis points from last week.

The 30-year fixed mortgage rate peaked at 3.79 percent on Wednesday before steadily declining for the remainder of the week.

“Mortgage rates continued their three-week downward trend last week, hitting their lowest levels since April on deepening financial turmoil in China,” said Erin Lantz, vice president of mortgages at Zillow. “Historically, late August is a quiet time in financial markets, but global uncertainty and a few important Fed speeches this week could lead to some rate volatility.”

Additionally, the 15-year fixed mortgage rate was 2.86 percent, and for 5/1 ARMs, the rate was 2.65 percent.

Check Zillow Mortgages for mortgage rate trends and up-to-the-minute mortgage rates for your state, or use the mortgage calculator to calculate monthly payments at the current rates.

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

About the Author

Lauren writes about housing trends for the Zillow Blog.

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