Filed under: Buying, Economy, Financing
By Lauren Braun
Mortgage rates for 30-year fixed loans fell this week, with the current rate borrowers were quoted on Zillow Mortgages at 3.66 percent, down from 3.75 percent at this time last week.
The 30-year fixed mortgage rate moved lower during the past week, dropping to 3.64 percent on Sunday before returning to the current rate.
"Rates dipped again last week on strong U.S. data and international turmoil, falling to levels not seen since the 'Taper Tantrum' in May 2013," said Erin Lantz, vice president of mortgages at Zillow. "This week, we expect rates to remain fairly stable, then move slightly higher in response to the Federal Open Market Committee's December statement on Wednesday."
Additionally, the 15-year fixed mortgage rate Tuesday morning was 2.90 percent. For 5/1 ARMs, the rate was 2.76 percent.
Purchase Mortgage Application Activity
Zillow predicts Wednesday's seasonally adjusted Mortgage Bankers Association Weekly Application Index will show purchase loan activity increased by one percent from the previous week. To learn more about this Zillow analysis, click here.
What are the interest rates right now? Check Zillow Mortgages for trends and up-to-the-minute mortgage rates for your state.