Mortgage rates for 30-year fixed mortgages rose this week, with the current rate borrowers were quoted on Zillow Mortgage Marketplace at 4.14 percent, up from 4.06 percent at this same time last week.
The 30-year fixed mortgage rate spiked to 4.17 percent on Wednesday and hovered between 4.16 and 4.18 percent for the majority of the week before dropping to the current rate this morning.
“Mortgage rates jumped on Wednesday as lenders reacted to the Federal Open Market Committee’s minutes reminding lenders that the Federal Reserve has delayed, not canceled, its plans to taper the economic stimulus,” said Dr. Svenja Gudell, director of economic research at Zillow. “Looking ahead, mortgage rates should remain fairly steady during the slow holiday week. The following week should be watched closely, as several potentially market-moving economic data releases, including the jobs report, come out.”
Additionally, the 15-year fixed mortgage rate this morning was 3.13 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.
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