Rates Fall to 3.93% After Briefly Breaking 4% Barrier
Mortgage rates for 30-year fixed loans fell this week, with the current rate borrowers were quoted on Zillow Mortgages at 3.93 percent, down 3 basis points from the same time last week.
The 30-year fixed mortgage rate rose to 4.01 percent last week before falling and then hovering around the current rate for the rest of the week.
“Rates retreated from their nine-month highs late last week as a new round of concerns emerged about Greece exiting the eurozone,” said Erin Lantz, vice president of mortgages at Zillow. “This week there is the potential for a big rate move as markets focus on Wednesday’s Federal Open Market Committee meeting and a resolution of Greek debt negotiation, two forces that could push rates in opposite directions.”
Additionally, the 15-year fixed rate was 3.05 percent. For 5/1 ARMs, the rate was 2.93 percent.
Check Zillow Mortgages for trends and up-to-the-minute rates for your state, or use the mortgage calculator to calculate monthly payments at the current rates.
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