Mortgage rates for 30-year fixed mortgages rose this week, with the current rate borrowers were quoted on Zillow Mortgage Marketplace at 4.22 percent, the highest rate reported since late September and a 17 basis point jump from 4.05 percent at this time last week.
The 30-year fixed mortgage rate hovered around 4.07 percent early last week before spiking on Friday.
“Rates shot up after a surprisingly strong employment report on Friday came on the heels of a stronger-than-expected GDP report on Thursday,” said Stan Humphries, chief economist at Zillow. “Looking ahead, any good economic news will serve to challenge the prevailing view that the Fed won’t start tapering until March, and the more likely early tapering becomes, the higher rates should be expected to climb.”
Additionally, the 15-year fixed mortgage rate this morning was 3.18 percent, and for 5/1 ARMs, the rate was 2.79 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.
via Zillow Blog - Real Estate Market Stats, Celebrity Real Estate, and Zillow News http://feedproxy.google.com/~r/ZillowBlog/~3/ak-27P2sxlY/,www.greaterftmyershomes.com
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