The 30-year fixed mortgage rate on Zillow® Mortgages is currently 3.96 percent, down twelve basis points from this time last week. The 30-year fixed mortgage rate spiked to 4.30 percent on Wednesday, then hovered around 4.06 percent for most of the week before falling to the current rate.
“Mortgage rates inched up briefly last week on the heels of Friday’s stronger than expected jobs report before falling sharply on Monday, hitting 11-week lows,” said Erin Lantz, vice president of mortgages at Zillow. “This week, with limited U.S. economic data slated for release, we expect rate movement to remain muted.”
For daily rates, the Mortgage News Daily has a series that tracks the Freddie Mac PMMS very well, and is usually updated daily around 3 PM ET. The MND data is based on actual lender rate sheets, and is mostly “the average no-point, no-origination rate for top-tier borrowers with flawless scenarios”. (this tracks the Freddie Mac series).
MND reports that average 30 Year fixed mortgage rates decreased today to 4.09% from 4.13% on Monday.
One year ago rates were at 4.30%. Here is a table from Mortgage News Daily:
• At 7:00 AM ET, the Mortgage Bankers Association (MBA) will release the results for the mortgage purchase applications index.
• At 2:00 PM, FOMC Minutes for the meeting of September 16-17, 2014.