Mortgage rates for 30-year fixed mortgages fell last week, with the current rate borrowers were quoted on Zillow Mortgage Marketplace at 4.19 percent, down from 4.21 percent at this same time last week. The 30-year fixed mortgage rate steadily declined last week, dropping to as low as 4.13 percent before rising slightly to today's rate. (See the entire week's chart below.)
"Last week, rates dipped mid-week due to continued concerns about Ukraine," said Erin Lantz, director of mortgages at Zillow. "This week, we expect geo-political uncertainty will continue to remain top-of-mind for investors, and will keep rates somewhat depressed until the situation in Ukraine stabilizes." Additionally, the 15-year fixed mortgage rate this morning was 3.17 percent and for Mortgage rates for 5/1 ARMs, the rate was 2.75 percent.
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*The weekly mortgage rate chart illustrates the average 30-year fixed interest in six-hour intervals.