30-Year Fixed Mortgage At Lowest Rate Since December 2010

By
Real Estate Agent with Starlight Realty Certified REO & Short Sale Specialist

Mortgage rates for 30-year fixed mortgages fell this week, with the current rate borrowers were quoted on Zillow Mortgage Marketplace at 4.46 percent, down from 4.53 percent at this same time last week. This is the lowest average rate reported on Zillow Mortgage Marketplace in 22 weeks.

The 30-year fixed mortgage rate peaked at 4.55 percent last Thursday, and then fluctuated between 4.42 percent and 4.48 percent for the remainder of the week. The lowest reported 30-year fixed rate prior to this week was 4.5 percent on December 7, 2010.

Additionally, the 15-year fixed mortgage rate this morning was 3.69 percent and for 5/1 ARMs, the rate was 2.92 percent.

What are the rates right now? Check Zillow Mortgage Marketplace for up-to-the-minute mortgage rates for your state.

 

Comments (2)

Max Lee
Keller Williams Realty Bellevue - Bellevue, WA

This will help!

http://reSeattle.com

May 12, 2011 06:28 AM
Kathleen Vetrano
RE/MAX Gateway - Falls Church, VA
Helping YOU Achieve YOUR Dreams

Great mortgage rates still in effect.  I was reveiwing the mortgage rates yesterday evening.  The highest rate reported was 18.45% in 1981.  Hard to imagine.  Home sales prices had to adjust for the purchasing power buyers had then and what they could afford due to the high rates.

May 12, 2011 06:31 AM

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