By Joe Szabo, Scottsdale Real Estate Team
Mortgage rates for 30-year fixed mortgages fell this week, with the current rate borrowers were quoted on Zillow Mortgages at 4.13 percent, down from 4.19 percent at this same time last week.
The 30-year fixed mortgage rate hovered around 4.17 percent for most of the week, peaking at 4.28 percent on Saturday before easing down to the current rate.
“Mortgage rates were mostly flat last week after the Fed offered reassurance that it would not accelerate the wind-down of the stimulus program,” said Erin Lantz, vice president of mortgages at Zillow. “With uncertainty about the Fed’s plans dismissed, we expect rates will remain steady throughout the coming week.”
Additionally, the 15-year fixed mortgage rate this morning was 3.18 percent, and for 5/1 ARMs, the rate was 2.97 percent.
Purchase Mortgage Application Activity
Zillow predicts tomorrow’s seasonally adjusted Mortgage Bankers Association Weekly Application Index will show purchase loan activity increased by 1 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.
*The weekly mortgage rate chart illustrates the average 30-year fixed interest rate 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.
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