Mortgage rates for 30-year fixed mortgages rose this week, with the current rate borrowers were quoted on Zillow at 3.80 percent, up 5 basis points from last week.
The 30-year fixed mortgage rate hovered around 3.75 percent for most of the week before rising to the current rate.
"Mortgage rates were mostly flat last week despite some daily fluctuation," said Erin Lantz, vice president of mortgages at Zillow. "This week all eyes will be on the Fed, which is expected to lift short-term interest rates for the first time in nine years on Wednesday. The effect on longer-term mortgage rates could be more muted as markets look for signals about the path of rate hikes in the months ahead."
Additionally, the 15-year fixed mortgage rate was 2.97 percent, and for 5/1 ARMs, the rate was 2.93 percent.
Check Zillow for mortgage rate trends and up-to-the-minute mortgage rates for your state, or use the mortgage calculator to calculate monthly payments at the current rates.
*The weekly mortgage rate chart illustrates the average 30-year fixed interest rate in six-hour intervals.
via Zillow Porchlight | Real Estate News, Advice and Inspiration http://ift.tt/1KJ7A9i
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