The Freddie Mac Weekly Primary Mortgage Market Survey® will be released on Thursday (the series I usually follow), but here is a release from Zillow today: 30-Year Fixed Mortgage Rate Rises Slightly
Mortgage rates for 30-year fixed mortgages rose this week, with the current rate borrowers were quoted on Zillow Mortgage Marketplace 4.14 percent, up from 4.09 percent at this same time last week.
“Rates were essentially unchanged last week despite a weaker than expected jobs report,” said Erin Lantz, director of mortgages at Zillow. “Although this week marks Janet Yellen’s first congressional testimony as the new Federal Reserve Chair, we expect rates will remain fairly flat.”
Additionally, the 15-year fixed mortgage rate this morning was 3.13 percent and for 5/1 ARMs, the rate was 2.80 percent.
This is down from last August when 30 year fixed rates were at 4.58% (Freddie Mac survey), and mortgage rates have been mostly moving sideways (or down a little) since jumping last June and July after Bernanke mentioned that the FOMC could start tapering later in 2013). Last year rates averaged 3.53% in February 2013.