30-Year Fixed Mortgage Rate Continues to Rise
This week mortgage rates rose again. For homeowners looking for a 30 year fixed rate they can expect a 3.39 rate. This is up from a week ago. It seems that rates seem to be staying right between 3.19 and 3.39 percent. This information is being quoted by the Zillow Mortgage Marketplace.
The reason for the slight rise in rates may be linked to the fact that the Federal Open Market Committee announced a job report that was stronger than was expected. So while rates seem to fluctuate back and forth, for the most part, they remain steady and are expected to stay in this pattern in the near future. Bright information concerning the job market is not expected. This continues to be good news for the new homeowner.
And for those looking for a shorter loan the rates are even better. The 15 year fixed mortgage was down to 2.63. If one chooses a 5/1 ARM the rate is as low as 2.52 percent. When looking for a mortgage rate Zillow is a great place to find the most up to date current information.