Mortgage Rates Rise From Recent Lows, Hitting 3.75%
By Lauren Braun
Mortgage rates for 30-year fixed loans rose this week, with the current rate borrowers were quoted on Zillow Mortgages at 3.75 percent, up 8 basis points from last week.
The 30-year fixed mortgage rate rose throughout the week before settling at the quoted rate Tuesday.
“Mortgage rates avoided the erratic movement of the stock market and rose steadily last week on improving domestic economic data,” said Erin Lantz, vice president of mortgages at Zillow. “This week, we expect rates to be volatile as markets look for further improvements in the economy’s health — especially Friday’s jobs report — that will influence the Fed’s decision to raise rates later in the year.”
Additionally, the 15-year fixed mortgage rate was 2.92 percent. For 5/1 ARMs, the rate was 2.73 percent.
Check Zillow Mortgages for rate trends and up-to-the-minute rates for your state, or use the mortgage calculator to calculate monthly payments at the current rates.