Yesterday was a special day for both my buyer and I. I think it's an experience that the both of us will remember for a long time to come. It was both of our very first closings.
Mortgage Rate Update
Mortgage rates for 30-year fixed mortgages rose this week, with the current rate borrowers were quoted on Zillow at 3.75 percent, up 3 basis points from last week.
The 30-year fixed mortgage rate hovered around 3.75 percent throughout the week before dipping to the current rate.
“Mortgage rates spiked late last week after the European Central Bank surprised markets by not expanding its asset purchase program, which aims to push rates lower,” said Erin Lantz, vice president of mortgages at Zillow. “Following that spike, rates have retreated to only slightly above where they began the week. We expect markets to be quieter this week with few important data releases or speeches on the schedule.”
*The weekly mortgage rate chart illustrates the average 30-year fixed interest rate in six-hour intervals.
*Courtesy of Lauren Braun via Zillow.