SEATTLE-The 30-year fixed mortgage rate on Zillow Mortgage Marketplace is currently 3.46%, up three basis points from 3.43% at this same time last week. “Rates remained fairly flat this week with little news to suggest a change in slow-but-steady growth trends both in the US and abroad,” notes Erin Lantz, director of Zillow Mortgage Marketplace.
According to Lantz, “Due to the short week, we expect to see very little movement in mortgage rates this week.”
Zillow’s real-time mortgage rates are based on thousands of custom mortgage quotes submitted daily to anonymous borrowers on the Zillow Mortgage Marketplace site, and reflect the most recent changes in the market.
The rate for a 15-year fixed home loan is currently 2.65%, while the rate for a 5-1 adjustable-rate mortgage is 2.32%.
It seems as though the rising rate trend is continuing. As GlobeSt.com previously reported, rates in early February went from 3.42% to 3.44%. Lantz said at the time that she expected that rates would remain fairly flat in the coming week “with limited economic news that might change the consensus that the economy is recovering, but at a slow and cautious pace.”
Lantz wasn’t able to respond to further GlobeSt.com inquiries by deadline to provide her forecast, but we will update this article as we learn more.
See the below graph that better indicates the numbers:
And in other Zillow news, Zillow just revealed that Engel & Völkers will partner with Zillow on US marketing and distribute for-sale listings to Zillow. The partnership helps agents, buyers and sellers by ensuring anyone can easily access current and accurate Engel & Völkers’ for-sale listings with high-quality photos, detailed descriptions and enhanced Engel & Völkers’ branding, according to a prepared statement.