30-Year Fixed Mortgage Rate Drops to 4.09 Percent — Lowest Rate in 10 Weeks By Joe Szabo, Scottsdale Real Estate Team

By Joe Szabo, Scottsdale Real Estate Team Mortgage rates for a 30-year fixed mortgage fell this week, with the current rate borrowers were quoted on Zillow Mortgage Marketplace at 4.09 percent, down from 4.18 percent at this same time last week. The 30-year fixed mortgage rate steadily declined last week, dropping to as low as 4.07 percent on Monday before rising to the current rate this morning. “Recent weakness in emerging markets helped push rates down last week to 10-week lows as investors turned toward more reliable assets like mortgage-backed securities,” said Erin Lantz, director of mortgages at Zillow. “If Friday’s jobs report is strong enough, it has the potential to pause a downward slide in rates and offset emerging market concerns.” Additionally, the 15-year fixed mortgage rate this morning was 3.10 percent and for 5/1 ARMs, the rate was 2.72 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. *The weekly mortgage rate chart illustrates the average 30-year fixed interest in six-hour intervals. 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, info@ScottsdaleRealEstateTeam.com 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.