Mortgage rates for 30-year fixed mortgages fell this week, with the current rate borrowers were quoted on Zillow Mortgages at 3.56 percent, down 9 basis points from this time last week.
The 30-year fixed mortgage rate dropped Wednesday, then rose to 3.69 percent Monday before falling to the current rate on Tuesday.
“Rates fell sharply last week after the Fed statement suggested that rates will remain lower for longer than expected,” said Erin Lantz, vice president of mortgages at Zillow. “We expect mixed domestic data to drive some small market movements this week, but mortgage rates should remain unchanged.”
Additionally, the 15-year fixed mortgage rate this morning was 2.81 percent, and for 5/1 ARMs, the rate was 2.70 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.
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