Zillow: Little Movement in 30-Year Rates
The average rate for the 30-year fixed-rate mortgage according to the Zillow Mortgage Marketplace is 3.43% as of Tuesday morning, down a single basis point from this time last week.
The 30-year fixed mortgage rate hovered between 3.4% and 3.45% for the majority of the week, dropping to the current rate on Tuesday morning.
"Rates have held steady for the past three weeks despite unexpected positive trade deficit results showing a stronger U.S. balance of trade," said Erin Lantz, director of Zillow Mortgage Marketplace.
"In the coming week, we can expect little change to the current status quo until the economic recovery gains more momentum."
The rate comes from the offers made to consumers on the Zillow Mortgage Marketplace.
The rate for a 15-year FRM is currently 2.66%, down from 2.7%, while the rate for a 5/1 adjustable-rate mortgage is 2.27% down from 2.35%.