30-Year Fixed Mortgage Rate Declines for First Time in 6 Weeks By Joe Szabo, Scottsdale Real Estate Team

By Joe Szabo, Scottsdale Real Estate Team The 30-year fixed mortgage rate on Zillow Mortgage Marketplace is currently 4.38 percent, which is down slightly from last week, but up eight basis points from 4.30 percent at this time two weeks ago*. The 30-year fixed mortgage rate steadily rose during the past two weeks, peaking at 4.43 percent last Wednesday before dropping to the current rate this morning. “Rates were essentially unchanged last week after gradually climbing back up during the past few weeks to approach the three-month high we saw in September,” said Erin Lantz, director of mortgages at Zillow. “This week, we expect rates to remain at this higher plateau until normal market activity returns after the New Year’s holiday.” Additionally, the 15-year fixed mortgage rate this morning was 3.34 percent and for 5/1 ARMs, the rate was 2.93 percent. What are the interest rates right now? Check Zillow Mortgage Marketplace for mortgage rate trends and up-to-the-minute mortgage rates for your state.   Please note that this Scottsdale Real Estate Blog is for informational purposes and not intended to take the place of a licensed Scottsdale Real Estate Agent. The Szabo Group offers first class real estate services to clients in the Scottsdale Greater Phoenix Metropolitan Area in the buying and selling of Luxury homes in Arizona. Award winning Realtors and Re/MAX top producers and best real estate agent for Luxury Homes in Scottsdale, The Szabo group delivers experience, knowledge, dedication and proven results. Contact Joe Szabo at 480.688.2020, [email protected] or visit www.scottsdalerealestateteam.com to find out more about Scottsdale Homes for Sale and Estates for Sale in Scottsdale and to search the Scottsdale MLS for Scottsdale Home Listings.