Weekly Report: Mortgage Rates Rise Slightly to 3.62%
By Lauren Braun
Mortgage rates for 30-year fixed loans rose this week, with the rate borrowers were quoted on Zillow Mortgages on Tuesday morning at 3.62 percent, up 6 basis points from the same time last week.
The 30-year fixed mortgage rate rose early in the week, then hovered around 3.65 percent before returning to 3.62 percent Tuesday.
“Rates increased last week on strong economic data from both the U.S. and Europe,” said Erin Lantz, vice president of mortgages at Zillow. “This week we expect some volatility as markets hold their breath for Friday’s monthly jobs report.”
Additionally, the 15-year fixed mortgage rate Tuesday was 2.87 percent. For 5/1 ARMs, the rate was 2.75 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.