30-Year Fixed Mortgage Rates Rise for Second Consecutive Week

Zillow

Mortgage rates for 30-year fixed mortgages fell this week, with the current rate borrowers were quoted on Zillow Mortgage Marketplace at 3.48 percent, up from 3.39 percent at this same time last week.

The 30-year fixed mortgage rate hovered between 3.39 and 3.41 percent for the majority of the week before rising near the current rate on Friday.

“Prompted by rumors that the Fed would begin scaling back the QE3 stimulus program earlier than anticipated, mortgage rates rose late last week to a level not seen since early April,” said Erin Lantz, director of Zillow Mortgage Marketplace. “This coming week, we expect rates will continue a longer-term upward trend as economic data points towards continued signs of economic recovery.”

Additionally, the 15-year fixed mortgage rate this morning was 2.62 percent and for 5/1 ARMs, the rate was 2.30 percent.

What are the rates right now? Check Zillow Mortgage Marketplace for up-to-the-minute mortgage rates for your state.

05-14-13 954AM
 *The weekly rate chart illustrates the average 30-year fixed interest in six-hour intervals.

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