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