FEB 5, 2013 4:31pm ET

30-Year Fixed Mortgage Rates Continue to Rise

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Rates for 30-year fixed mortgages rose for the third straight week, according to the Zillow Mortgage Rate Ticker.

The 30-year fixed mortgage rate is now currently 3.44%, which is up two basis points from the same time last week. Over the majority of the week, this 30-year fixed rate hovered between 3.43% and 3.48%, the Seattle-based firm said. 

“Despite an unexpected increase in the unemployment rate, rates ended the week essentially unchanged,” said Erin Lantz, director of Zillow Mortgage Marketplace. “This coming week, we expect rates to remain fairly flat with limited economic news that might change the consensus that the economy is recovering, but at a slow and cautious pace.”

Zillow’s real-time mortgage rates are based on thousands of custom mortgage quotes submitted daily to anonymous borrowers on the Zillow Mortgage Marketplace website.

Furthermore, the rate for a 15-year fixed home loan is currently 2.7%, while the rate for a 5/1 adjustable rate mortgage is 2.35%.

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