Mortgage rates for 30-year fixed mortgages rose this week, with the current rate borrowers were quoted on Zillow Mortgages at 3.58 percent, up from 3.57 percent at this same time last week.
The 30-year fixed mortgage rate hovered around 3.63 percent, falling to 3.46 percent on Thursday before returning to the current rate.
“Despite substantial volatility, rates remained essentially flat last week, holding near 20-month lows,” said Erin Lantz, vice president of mortgages at Zillow. “With minimal incoming data this holiday-shortened week, we expect little rate movement as the markets look to the President’s State of the Union address and the European Central Bank’s Thursday policy meeting.”
Additionally, the 15-year fixed mortgage rate this morning was 2.92 percent, and for 5/1 ARMs, the rate was 2.83 percent.
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