Mortgage rates for 30-year fixed mortgages rose this week, with the current rate borrowers were quoted on Zillow Mortgage Marketplace at 4.26 percent, up slightly from 4.25 percent at this same time last week.
The 30-year fixed mortgage rate spiked to 4.33 percent on Wednesday and hovered between 4.32 and 4.34 percent for the majority of the week before dropping to the current rate this morning.
“Rates remained flat last week despite the release of a strong jobs report, which would typically move rates upward,” said Erin Lantz, director of mortgages at Zillow. “Instead of reacting to regularly scheduled economic data, markets are focused on next week’s Federal Open Market Committee meeting, which will hopefully provide clarity around the timing of the Federal Reserve’s plans to wind down its stimulus program.”
- Mortgage Loans