Mortgage rates for 30-year fixed mortgages fell this week, with the current rate borrowers were quoted on Zillow Mortgages at 3.91 percent, down 4 basis points from the same time last week.
The 30-year fixed mortgage rate dipped early last week, then hovered around 3.89 percent before rising to the current rate on Tuesday.
“Mortgage rates fell early last week as markets were spooked by weak retail sales data and by Fed Chair Janet Yellen’s Congressional testimony, which confirmed the first interest rate hike is still several months away,” said Erin Lantz, vice president of mortgages at Zillow. “Looking ahead, we expect rates to be mostly flat in this data-sparse week.”
Additionally, the 15-year fixed mortgage rate was 3.03 percent, and for 5/1 ARMs, the rate was 2.89 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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