Mortgage rates for 30-year fixed mortgages rose this week, with the current rate borrowers were quoted on Zillow Mortgage Marketplace at 3.93 percent, up from 3.87 percent at this same time last week.
The 30-year fixed mortgage rate hovered between 3.85 and 3.94 percent for the majority of the week, dropping to as low as 3.80 percent on Thursday. Since May 7, the 30-year fixed mortgage rate has risen from 3.39 percent.
“Despite a U.S. jobs report that was in line with expectations, mortgage rates rose yet again last Friday and are now at 15-month highs,” said Erin Lantz, director of Zillow Mortgage Marketplace. “This coming week, without any significant negative economic news, we expect the mortgage rate rally to continue.”
Additionally, the 15-year fixed mortgage rate was 3.04 percent, and for 5/1 ARMs, the rate was 2.58 percent.