Mortgage Rates at Their Lowest Level of the Year

Mortgage rates for 30-year fixed mortgages are sitting steady below 5.50% this week — the lowest they’ve been all year, according to Zillow Mortgage Marketplace. Looks like they even dipped down to nearly 5.20 percent last night, but have come up again just a bit this morning to 5.38%.

Here’s the chart for 30-year fixed rates from the past 24 hours:

Last week, according to the Zillow Mortgage Rate Monitor, the average 30-year fixed rate was 5.53%, down from 5.92% the week before. The decline was probably due to the government’s decision to buy mortgage-back securities.

Check out the mortgage rate page on Zillow Mortgage Marketplace to see up-to-the-minute rates for different types of mortgages, as well as rates in individual states.