SEATTLE-The 30-year fixed mortgage rate on Zillow Mortgage Marketplace is currently 4.24%, up two basis points from 4.2% at this time last week. After peaking at 4.32 percent on July 25, the rate fluctuated between 4.25 and 4.3% over the remainder of the week before dropping to the current rate Tuesday.
"Rates remained fairly flat this week with a short-lived surge spurred by a stronger-than-expected new home sales report late last week," said Erin Lantz, director of Zillow Mortgage Marketplace. "This coming week, although there is a full schedule of economic news planned for release, we expect rates to remain steady until a clearer picture of economic health emerges."
Zillow's real-time mortgage rates are based on thousands of custom mortgage quotes submitted daily to anonymous borrowers on the Zillow Mortgage Marketplace site, and reflect the most recent changes in the market. These are not marketing rates, or a weekly survey.
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
