30-Year Fixed Mortgage Rates Fall to 3.73% - Zillow

The 30-year fixed mortgage rate on Zillow® Mortgages is currently 3.73 percent, down seven basis points from this time last week. The 30-year fixed mortgage rate fell early last week, then hovered around 3.75 percent before settling at the current rate on Monday.

“Mortgage rates fell sharply mid-week last week, touching their lowest levels since November, as markets reacted to political drama in Washington, D.C. by scaling back expectations for legislation that could boost economic growth and push interest rates higher,” said Erin Lantz, vice president of mortgages at Zillow. “Rates recovered about half of the mid-week decline as the initial political panic subsided but remain near their lowest levels of the year. This week, several Fed speeches, FOMC meeting minutes, and Q1 GDP data could move rates in addition to ongoing political developments.”

Zillow’s real-time mortgage rates are based on thousands of custom mortgage quotes submitted daily to anonymous borrowers on the Zillow Mortgages site and reflect the most recent changes in the market. These are not marketing rates, or a weekly survey.

The rate for a 15-year fixed home loan is currently 2.98 percent, while the rate for a 5-1 adjustable-rate mortgage (ARM) is 2.87 percent.

Below are current rates for 30-year fixed mortgages by state. Additional states’ rates are available at: http://www.zillow.com/mortgage-rates.

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