30-Year Fixed Mortgage Rates Fall Slightly After Volatile Week; Current Rate is 3.93%, According to Zillow Mortgage Rate Ticker


SEATTLE, Feb. 07, 2017 (GLOBE NEWSWIRE) -- The 30-year fixed mortgage rate on Zillow® Mortgages is currently 3.93 percent, down 4 basis points from this time last week. The 30-year fixed mortgage rate was volatile last week, moving between 4 percent and 3.92 percent throughout the week, and fell back to the current rate on Monday.

“Mortgage rates were particularly volatile toward the end of last week,” said Erin Lantz, vice president of mortgages at Zillow. “They dropped Friday after the monthly jobs report showed slower than expected wage growth, but then recovered after a Fed official spoke about plans to end the Bank’s bond-buying program which has helped keep rates lower while in place. Rates fell again early this week as investors sought safe haven from European political risk surrounding the French election. With little economic news on the schedule this week, political news is likely to continue driving rates.”

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 3.13 percent, while the rate for a 5-1 adjustable-rate mortgage (ARM) is 2.99 percent.  

Below are current rates for 30-year fixed mortgages by state. Additional states’ rates are available at: http://www.zillow.com/mortgage-rates.

 StateCurrent
30-Year
Fixed Rate
(2/7/17)
Last Week’s
30-Year
Fixed Rate
(1/31/17)
Change in
Basis
Points
 
 California Mortgage Rates3.93%3.97%-4 
 Colorado Mortgage Rates3.89%3.90%-1 
 Florida Mortgage Rates3.92%3.96%-4 
 Illinois Mortgage Rates3.98%3.99%-1 
 Massachusetts Mortgage Rates3.90%3.93%-3 
 New Jersey Mortgage Rates3.91%3.97%-6 
 New York Mortgage Rates4.00%4.11%-11 
 Pennsylvania Mortgage Rates3.91%3.95%-4 
 Texas Mortgage Rates3.94%3.99%-5 
 Washington Mortgage Rates3.92%3.95%-3 

About Zillow Mortgages
Zillow Mortgages, operated by Zillow, Inc., is a free, open, and transparent lending marketplace, where borrowers connect with lenders to find loans and get the best mortgage rates.  Borrowers anonymously submit loan requests and receive an unlimited number of custom mortgage quotes with real rates directly from thousands of competing lenders.  Zillow Mortgages also provides mortgage calculators, mortgage advice, mortgage widgets, and lender directories
Zillow is a registered trademark of Zillow, Inc.


            

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