Mortgage Rates Drift Slightly Downward to 3.75%

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ZillowThe weekly mortgage rate chart illustrates the average 30-year fixed interest rate in six-hour intervals.

By Lauren Braun

Mortgage rates for 30-year fixed home loans fell this week, with the rate borrowers were quoted on Zillow at 3.75 percent Tuesday, down four basis points from last week.

The 30-year fixed mortgage rate fell throughout the week before settling at 3.75.

“Mortgage rates remained fairly flat last week,” said Erin Lantz, vice president of mortgages at Zillow. “There is a risk of short-term volatility this holiday-shortened week due to lower than normal market participation and several important data releases.”

Additionally, the 15-year fixed mortgage rate was 2.93 percent. For 5/1 ARMs, or adjustable-rate mortgages, the rate was 2.92 percent.

Check Zillow for mortgage rate trends and up-to-the-minute rates for your state, or use the mortgage calculator to calculate monthly payments at the current rates.

 

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Mortgage Rates Flatten Out at 3.79% for 30-Year Loan

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ZillowThe weekly mortgage rate chart illustrates the average 30-year fixed interest rate in six-hour intervals.

By Lauren Braun

Mortgage rates for 30-year fixed loans fell this week, with the rate borrowers were quoted on Zillow at 3.79 percent, down four basis points from last week.

The 30-year fixed mortgage rate fell Friday, then hovered around 3.80 percent before dipping to the current rate Tuesday.

“Last week, mortgage rates remained flat until weak U.S. economic data and stronger than expected oil supplies caused a drop at the week’s end,” said Erin Lantz, vice president of mortgages at Zillow. “Rates are unlikely to move much higher this week, as markets make sense of the political situation in Europe and look to U.S. inflation and output data, as well as the release of minutes from the Federal Open Market Committee’s October meeting and commentary from several committee voters.”

Additionally, the 15-year fixed mortgage rate was 2.95 percent. For 5/1 adjustable rate mortgages, also known as ARMs, the rate was 3.00 percent.

Check Zillow for mortgage rate trends and up-to-the-minute rates for your state, or use the mortgage calculator to calculate monthly payments at the current rates.

 

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Mortgage Rates Rise Sharply on Expectations of Move by Fed

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ZillowThe weekly mortgage rate chart illustrates the average 30-year fixed interest rate in six-hour intervals.

By Lauren Braun

Mortgage rates for 30-year fixed loans rose this week, with the rate borrowers were quoted on Zillow Mortgages at 3.83 percent Tuesday, up 17 basis points from last week.

The 30-year fixed mortgage rate rose steadily throughout the week before settling at the current rate.

“Mortgage rates moved decisively higher last week as the commentary of several Federal Open Market Committee members and an exceptionally strong jobs report solidified expectations for a December Fed rate hike,” said Erin Lantz, vice president of mortgages at Zillow. “Markets will look for further signals about the strength of the economy in inflation and consumer confidence data in this holiday-shortened week.”

Additionally, the 15-year fixed mortgage rate was 2.98 percent. For 5/1 ARMs, or adjustable-rate mortgages, the rate was 2.99 percent.

Check Zillow Mortgages 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.

 

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Mortgage Rates Rise in Anticipation of Fed Hike

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ZillowThe weekly mortgage rate chart illustrates the average 30-year fixed interest rate in six-hour intervals.

By Lauren Braun

Mortgage rates for 30-year fixed loans rose this week, with the rate borrowers were quoted on Zillow Mortgages at 3.66 percent Tuesday, up three basis points from last week.

The 30-year fixed mortgage rate rose early in the week, then hovered around 3.69 percent before dipping to Tuesday’s rate.

“Mortgage rates increased last week as Wednesday’s Federal Open Market Committee meeting minutes solidified expectations of a December Fed rate hike,” said Erin Lantz, vice president of mortgages at Zillow. “This week, more market movement is likely, as all eyes will be watching mid-week Fed speeches and Friday’s monthly jobs report.”

Additionally, the 15-year fixed mortgage rate was 2.86 percent. For 5/1 ARMs, the rate was 2.89 percent.

Check Zillow Mortgages for rate trends and up-to-the-minute rates for your state, or use the mortgage calculator to calculate monthly payments at the current rates.

 

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Mortgage Rates Remain Low as September Ends

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ZillowThe weekly mortgage rate chart illustrates the average 30-year fixed interest rate in six-hour intervals.

By Lauren Braun

Mortgage rates for 30-year fixed loans remained low this week, with the rate borrowers were quoted on Zillow Mortgages at 3.73 percent, unchanged from last week.

The 30-year fixed mortgage rate rose on Friday, then hovered around 3.76 percent before falling to Tuesday’s rate.

“Mortgage rates are almost unchanged from last week despite some volatility in response to mixed messages from incoming data and Fed commentary,” said Erin Lantz, vice president of mortgages at Zillow. “Despite a number of important speeches and data releases this week, expectations for the first Fed rate hike are firmly focused on December. We expect rates will remain roughly flat in the absence of exceptional global events.”

Additionally, the 15-year fixed mortgage rate was 2.92 percent. For 5/1 ARMs, the rate was 2.74 percent.

Check Zillow Mortgages for mortgage rate trends and up-to-the-minute rates for your state, or use the mortgage calculator to calculate monthly payments at the current rates.

 

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Fed’s Decision to Delay Rate Hike Keeps Mortgage Rates Low

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ZillowThe weekly mortgage rate chart illustrates the average 30-year fixed interest rate in six-hour intervals.

By Lauren Braun

Mortgage rates for 30-year fixed loans fell this week, with the rate borrowers were quoted on Zillow Mortgages at 3.73 percent Tuesday, down two basis points from last week.

The 30-year fixed mortgage rate fell to 3.67 percent on Friday before rising to Tuesday’s rate.

“Mortgage rates fell last week to their lowest levels since early May after the Fed deferred its first rate hike yet again,” said Erin Lantz, vice president of mortgages at Zillow. “We expect rates to be mostly stable this week now that the uncertainty about the Fed’s decision has subsided.”

Additionally, the 15-year fixed mortgage rate was 2.89 percent. For 5/1 adjustable rate mortgages, the rate was 2.71 percent.

Check Zillow Mortgages 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.

 

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Mortgage Rates Holding at 3.75% Ahead of Signals From Fed

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ZillowThe weekly mortgage rate chart illustrates the average 30-year fixed interest rate in six-hour intervals.

By Lauren Braun

Mortgage rates for 30-year fixed loans rose this week, with the current rate borrowers were quoted on Zillow Mortgages at 3.75 percent, up one basis point from last week.

The 30-year fixed rate hovered around 3.73 percent throughout the week before rising to the current rate Tuesday.

“Mortgage rates held steady last week,” said Erin Lantz, vice president of mortgages at Zillow. “We expect rates to remain calm leading up to Thursday’s Federal Open Market Committee statement as markets eagerly anticipate any signal or action from the Fed on interest rates.”

(Update: The Fed kept interest rates unchanged Thursday, citing concerns about the global economy.)

Additionally, the 15-year fixed mortgage rate was 2.90 percent. For 5/1 adjustable-rate mortgages, the rate was 2.76 percent.

Check Zillow Mortgages for trends and up-to-the-minute rates for your state, or use the mortgage calculator to calculate monthly payments at the current rates.

 

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Mortgage Rates Holding Steady Near 3.75% in September

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ZillowThe weekly mortgage rate chart illustrates the average 30-year fixed interest rate in six-hour intervals.

By Lauren Braun

Mortgage rates for 30-year fixed mortgages fell almost imperceptibly this week, with the rate borrowers were quoted on Zillow Mortgages at 3.74 percent Tuesday, down 1 basis point from last week.

The 30-year fixed mortgage rate hovered around that rate throughout the week.

“Rates dipped slightly last week following a mildly disappointing jobs report but quickly rebounded, ending the week where they began,” said Erin Lantz, vice president of mortgages at Zillow. “With limited domestic data slated for release in this holiday-shortened week, we expect rates will remain fairly steady for the second week in a row.”

Additionally, the 15-year fixed mortgage rate was 2.90 percent. For 5/1 ARMs, the rate was 2.66 percent.

Check Zillow Mortgages 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.

 

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Mortgage Rates Rise From Recent Lows, Hitting 3.75%

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ZillowThe weekly mortgage rate chart illustrates the average 30-year fixed interest rate in six-hour intervals.

By Lauren Braun

Mortgage rates for 30-year fixed loans rose this week, with the current rate borrowers were quoted on Zillow Mortgages at 3.75 percent, up 8 basis points from last week.

The 30-year fixed mortgage rate rose throughout the week before settling at the quoted rate Tuesday.

“Mortgage rates avoided the erratic movement of the stock market and rose steadily last week on improving domestic economic data,” said Erin Lantz, vice president of mortgages at Zillow. “This week, we expect rates to be volatile as markets look for further improvements in the economy’s health — especially Friday’s jobs report — that will influence the Fed’s decision to raise rates later in the year.”

Additionally, the 15-year fixed mortgage rate was 2.92 percent. For 5/1 ARMs, the rate was 2.73 percent.

Check Zillow Mortgages for rate trends and up-to-the-minute rates for your state, or use the mortgage calculator to calculate monthly payments at the current rates.

 

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Mortgage Rates Fall Again, Reaching Lowest Level Since April

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ZillowThe weekly mortgage rate chart illustrates the average 30-year fixed interest rate in six-hour intervals.

By Lauren Braun

Mortgage rates for 30-year fixed loans fell this week, with the rate borrowers were quoted on Zillow Mortgages at 3.67 percent Tuesday, down 10 basis points from last week.

The 30-year fixed mortgage rate peaked at 3.79 percent before steadily declining for the remainder of the week.

“Mortgage rates continued their three-week downward trend last week, hitting their lowest levels since April on deepening financial turmoil in China,” said Erin Lantz, vice president of mortgages at Zillow. “Historically, late August is a quiet time in financial markets, but global uncertainty and a few important Fed speeches this week could lead to some rate volatility.”

Additionally, the 15-year fixed mortgage rate was 2.86 percent. For 5/1 ARMs, the rate was 2.65 percent.

Check Zillow Mortgages for rate trends and up-to-the-minute rates for your state, or use the mortgage calculator to calculate monthly payments at the current rates.

 

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