Mortgage rates for 30-year fixed loans fell this week, with the current rate borrowers were quoted on Zillow Mortgages at 3.65 percent, down 8 basis points from this time last week.
The 30-year fixed mortgage rate dropped Wednesday, then hovered around 3.69 percent before falling to the current rate on Tuesday.
“Rates fell early last week as the European Central Bank officially launched its bond purchase program, and remained low due to weak U.S. data released later in the week,” said Erin Lantz, vice president of mortgages at Zillow. “This week we expect rate volatility leading up to Wednesday’s Federal Open Market Committee statement and Fed Chair Janet Yellen’s press conference.”
Additionally, the 15-year fixed mortgage rate Tuesday morning was 2.87 percent. For 5/1 ARMs, the rate was 2.75 percent.
Check Zillow Mortgages for mortgage rate trends and up-to-the-minute mortgage rates for your state, or use the mortgage calculator to see what your monthly payments would be at the current rates.