Mortgage Rates Continue to Fall

Mortgage rates for 30-year fixed rates continued to fall this week, with the weekly average rate borrowers were quoted on Zillow Mortgage Marketplace at 4.87%, down from 4.97% the week prior. For 15-year fixed mortgages, borrowers were quoted on average, 4.32% and for 5/1 ARMs, 3.80%.

This morning, the national rate for 30-year fixed purchase mortgages was 4.91%.

What are the rates right now? Check Zillow Mortgage Marketplace for up-to-the-minute mortgage rates.

4 Comments so far

Ken Flaspohler on October 28, 2009 5:10 am

Rates may be falling but mortgages are getting harder to get also. I have been hearing more and more about appraisal requirements on conventional home loans. scary…
DebtFree on October 28, 2009 12:49 pm

Appraisal requirements? How scary!

What’s next, buyer credit checks and employment verification? Oh the horror…
Betsy on October 28, 2009 6:14 pm

Rates are great here in Boston! Not only did my clients just sign a Purchase and Sale Agreement for $53,000 less than asking price but they got a 4.75% mortgage if they closed within a month.

If you can do it, why not, it’s certainly an investors’ market! Feel free to be in touch if you are interested in living in Boston! My name is Betsy Wagner, I am a Sales and Leasing Agent for luxury real estate firm, Warren Residential.

617-416-1322 or email me at bwagner@warrenre.com.
Andrew Hahn on November 5, 2009 8:38 pm

The difficulty about quoting interest rates is they change from day to day and even multiple times during the day depending on market conditions. Also there are other variable such as LTV, credit score, Purpose and program type. Rates need to quoted based on the person particular situation. If you’re in Colorado and would like to know what your rate would be given your particular situation please contact me.
Andrew Hahn
Capital Advantage

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