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Mortgage rates continue to rise

Zillow • Jun 6, 2013 at 10:55 PM

Mortgage rates for 30-year fixed mortgages rose again this week, with the current rate borrowers were quoted on Zillow Mortgage Marketplace at 3.87 percent, up from 3.71 percent at this same time last week.

The 30-year fixed mortgage rate hovered between 3.75 and 3.86 percent for the majority of the week before rising to the current rate this morning.

“Rates stayed near 12-month highs, reflecting expectations for a winding down of Fed stimulus,” said Erin Lantz, director of Zillow Mortgage Marketplace. “This week, we expect rates to remain at these levels unless Friday’s jobs report delivers unexpected news.”

Additionally, the 15-year fixed mortgage rate this morning was 2.97 percent, and for 5/1 ARMs, the rate was 2.48 percent.

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