News
Rates For 30-Year Fixed Mortgages Dropped This Week
May 13, 2016
Mortgage rates for 30-year fixed mortgages went down this week, with the current rate borrowers quoted on Zillow at 3.41%, down three basis points from last week.
The 30-year fixed mortgage fell throughout the week, reaching a low of 3.4% before rising to the current rate.
“Mortgage rates fell for the second week in a row and are now back near three-year lows due to the combination of investor fears after weak European financial sector earnings and a relatively weak jobs report last Friday,” said Zillow VP of mortgages Erin Lantz. “Several Fed speeches are likely to drive rates this week, although markets will also keep an eye on oil markets.” [Zillow]
