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Gazett-Mail Real Estate - Articles

Thursday March 6, 2014

30-Year Fixed Mortgage Rates Decline First Time in 4 Weeks

Mortgage rates for 30-year fixed mortgages fell this week, with the current rate borrowers were quoted on Zillow Mortgage Marketplace at 4.11 percent, down from 4.18 percent at this same time last week.

The 30-year fixed mortgage rate declined steadily last week, dropping to as low as 4.09 percent on Monday before rising slightly to today’s rate.

“Rates drifted downwards last week as geopolitical concerns emerged from the turmoil in Ukraine,” said Erin Lantz, director of mortgages at Zillow. “This week, while the jobs report on Friday is typically the dominant market catalyst, we expect rates will remain depressed while the situation in Ukraine remains unsettled.”

Additionally, the 15-year fixed mortgage rate this morning was 3.08 percent and for 5/1 ARMs, the rate was 2.69 percent.

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