By Alexa Fiander
Mortgage rates for a 30-year fixed mortgage fell this week, with the current rate borrowers were quoted on Zillow Mortgage Marketplace at 4.09 percent, down from 4.18 percent at this same time last week. The 30-year fixed mortgage rate steadily declined last week, dropping to as low as 4.07 percent on Monday before rising to the current rate this morning. (See an expanded view of the chart below.)
"Recent weakness in emerging markets helped push rates down last week to 10-week lows as investors turned toward more reliable assets like mortgage-backed securities," said Erin Lantz, director of mortgages at Zillow. "If Friday's jobs report is strong enough, it has the potential to pause a downward slide in rates and offset emerging market concerns."
Additionally, the 15-year fixed mortgage rate this morning was 3.10 percent and for 5/1 ARMs, the rate was 2.72 percent.
What are the interest rates right now? Check Zillow Mortgage Marketplace for mortgage rate trends and up-to-the-minute mortgage rates for your state.
*The weekly mortgage rate chart illustrates the average 30-year fixed interest in six-hour intervals.
Previous posts from Zillow about mortgages:
30-Year Rates Dip
30-Year Fixed Rate Holds Steady
Rates Tick Down Again
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