Mortgage Rates on the Rise, Pausing at 3.76%
By Lauren Braun
Mortgage rates for 30-year fixed loans rose this week, with the rate borrowers were quoted on Zillow Mortgages at 3.76 percent, up nine basis points from this time last week.
The 30-year fixed rate rose early in the week, reaching 3.85 percent on Tuesday, before settling around 3.76 percent for the rest of the week.
“Rates increased last week as fears of a Greek exit from the eurozone eased,” said Erin Lantz, vice president of mortgages at Zillow. “This week, markets will focus on Fed Chair Janet Yellen’s Congressional testimony and whether Greece’s new fiscal pact proves durable. Rates could be volatile, but net out flat for the week.”
Additionally, the 15-year fixed mortgage rate this morning was 2.96 percent. For 5/1 ARMs, the rate was 3.05 percent.
Check Zillow Mortgages for rate trends and up-to-the-minute mortgage rates for your state, or use the mortgage calculator to calculate monthly payments at the current rates.