Mortgage rates for 30-year fixed mortgages were unchanged this week, with the current rate borrowers were quoted on Zillow Mortgages at 3.81 percent, identical to this same time last week.
The 30-year fixed mortgage rate hovered around 3.85 percent for most of the week, dropping to 3.70 percent Wednesday before rising to the current rate.
“Last week mortgage rates experienced dramatic inter-day volatility, falling Wednesday to their lowest level since May 2013 fueled by global economic concerns and the potential threat of an Ebola epidemic,” said Erin Lantz, vice president of mortgages at Zillow. “With little mortgage market-moving data scheduled to be released next week, we expect rates to remain stable.”
Additionally, the 15-year fixed mortgage rate this morning was 2.97 percent, and for 5/1 ARMs, the rate was 2.80 percent.
Purchase Mortgage Application Activity
Zillow predicts tomorrow’s seasonally adjusted Mortgage Bankers Association Weekly Application Index will show purchase loan activity increased by 5 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.
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.