last week, peaking at 4.30 percent on Sunday before easing down to the current rate.
“Last week, rates hit a five-month high on anticipation that the Fed’s policy statement might suggest an earlier than expected hike in the federal funds rate,” says Erin Lantz, vice president of mortgages at Zillow.
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 3.26 percent, while the rate for a 5-1 adjustable-rate mortgage (ARM) is 3.03 percent.
For more information, visit http://www.zillow.com/mortgage-rates.