Mortgage rates for 30-year fixed mortgages fell this week, with the current rate borrowers were quoted on Zillow at 3.68 percent, down 13 basis points from last week.
The 30-year fixed mortgage rate fell steadily until Friday, then hovered around the current rate for the rest of the week.
"Mortgage rates fell last week despite strong U.S. economic data as investors sought safe assets in the wake of stock market turmoil in Asia," said Erin Lantz, vice president of mortgages at Zillow. "With rates near their lowest levels since late October, we expect rates to move cautiously upward this week."
Additionally, the 15-year fixed mortgage rate was 2.87 percent, and for 5/1 ARMs, the rate was 2.97 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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