30-Year Fixed Mortgage Rates Down Slightly By Joe Szabo, Scottsdale Real Estate Team

Mortgage rates for 30-year fixed mortgages dipped slightly this week, with the current rate borrowers were quoted on Zillow Mortgage Marketplace at 3.98 percent, down 5 basis points from this time last week. The 30-year fixed mortgage rate hovered around 4 percent for the majority of the week, before dropping slightly to the current rate on Tuesday morning. “Last week, rates hit 4-week lows after a weaker-than-expected gross domestic product report suggested some softness in the U.S. economy,” said Erin Lantz, vice president of mortgages at Zillow. “This week, we expect mortgage rates to remain fairly flat unless the jobs report, out Thursday rather than Friday this week, reveals an unexpectedly strong gain in the labor market.” Additionally, the 15-year fixed mortgage rate this morning was 2.98 percent, and for 5/1 ARMs, the rate was 2.77 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 rate in six-hour intervals.