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30Year Fixed Mortgage Rate Firmly Below 4 Percent For The Sixth Week In A Row
The 30-year fixed mortgage rate fell early in the week, then spiked to 4.02 percent on Tuesday before settling to the current rate.
“Last week, rates dipped after Friday’s weaker-than-expected jobs report,” said Erin Lantz, vice president of mortgages at Zillow. “This week, with limited economic data scheduled for release and the bond market closed for Veterans Day, we expect rate movement to remain fairly muted.”
Additionally, the 15-year fixed mortgage rate this morning was 3.04 percent, and for 5/1 ARMs, the rate was 2.88 percent.
Purchase Mortgage Application ActivityZillow predicts tomorrow’s seasonally adjusted Mortgage Bankers Association Weekly Application Index will show purchase loan activity to decrease by 3 percent from the week prior. To learn more about this Zillow analysis, click here.What are the interest rates right now? Check Zillow Mortgages for mortgage rate trends and up-to-the-minute mortgage rates for your state.
For Mark Ross, founder of Ross NW Real Estate and professional real estate broker, real estate has always been the career of choice. During his 25+ years in the industry, Mark has gained experience in....
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Rates for home loans rose to a six-week high as upbeat economic data and a bulging deficit spurred a yield-lifting bond sell-off and big questions gripped the housing market.The 30-year fixed-rate