30-Year Fixed Mortgage Rates Hold Steady
Mortgage rates for 30-year fixed mortgages remained unchanged this week, with the current rate borrowers were quoted on Zillow Mortgages at 4.05 percent, up from 4.03 percent at this same time last week.
The 30-year fixed mortgage rate hovered between 4.02 and 4.08 percent for the majority of the week, dropping below 4 percent on Friday before rising to the current rate this morning.
“Last week rates dipped slightly after bank instability in Portugal triggered concerns about the broader European economy,” said Erin Lantz, vice president of mortgages at Zillow. “This week we expect rate activity to remain somewhat subdued amid ongoing international uncertainty.”
Purchase mortgage application activity
Zillow predicts tomorrow’s seasonally adjusted Mortgage Bankers Association Weekly Application Index will show purchase loan activity fell by 3 percent from the week prior. To learn more about this Zillow analysis, click here.
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*The weekly mortgage rate chart illustrates the average 30-year fixed interest in six-hour intervals.