Mortgage Rates Slip Lower to 3.55% After Jobs Report
By Lauren Braun
Mortgage rates for 30-year fixed loans fell this week, with the current rate borrowers were quoted on Zillow Mortgages at 3.55 percent, down 7 basis points from last week.
The 30-year fixed mortgage rate fell throughout the week, reaching 3.47 percent on Sunday before returning to the current rate.
“Rates fell sharply around Friday’s highly anticipated jobs report, which showed much weaker job creation and modestly higher wages than expected,” said Erin Lantz, vice president of mortgages at Zillow. “Looking ahead, we expect rates to be mostly flat, with reaction to last week’s headlines and international news driving rate movement this week.”
Additionally, the 15-year fixed mortgage rate was at 2.79 percent Tuesday. For 5/1 ARMs, the rate was 2.67 percent.
Check Zillow Mortgages for mortgage 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.