By Alexa Fiander
Mortgage rates for 30-year fixed mortgages fell this week, with the current rate borrowers were quoted on Zillow Mortgage Marketplace at 3.99 percent, down from 4.05 percent at this same time last week. The 30-year fixed mortgage rate steadily declined last week, dropping to as low as 3.98 percent on Sunday before rising slightly to the current rate Tuesday morning. (See the chart below.)
"Rates continued to drift lower last week, falling below the 4 percent threshold for the first time in months," said Erin Lantz, vice president of mortgages at Zillow. "In this holiday-shortened week, we expect rates will remain fairly stable unless economic data or Federal Reserve speakers surprise markets with meaningful insights into the health of the U.S. economy."
Additionally, the 15-year fixed mortgage rate this morning was 2.98 percent, and for 5/1 ARMs, the rate was 2.71 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.