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Mortgage Rate Rises Slightly

Mortgage rates for 30-year fixed mortgages rose this week, with the current rate borrowers were quoted on Zillow Mortgages at 4.08 percent, up from 4.03 percent at this same time last week.

The 30-year fixed mortgage rate hovered around 4.10 percent for the majority of the week, peaking at 4.17 percent on Thursday before easing back down to the current rate today.

“Mortgage rates were subdued last week as ongoing geopolitical concerns and economic softness in Europe encouraged investors to buy U.S. mortgage-backed securities as a safe haven,” said Erin Lantz, vice president of mortgages at Zillow. “This week, we expect international headlines, rather than U.S. economic data, to drive any meaningful changes to mortgage rates.”

Additionally, the 15-year fixed mortgage rate this morning was 3.12 percent, and for 5/1 ARMs, the rate was 2.77 percent.

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