The 30 year fixed mortgage rate on Zillow Mortgages dropped eight percentage points from this time last week, landing at 3.97 percent. The 30 year fixed mortgage rate hovered between 3.96 percent and 4.08 percent for the majority of the week, before settling at the current rate on Tuesday.
“Rates dropped below 4 percent on Thursday amid the uncertainty and turmoil following the MH17 flight disaster and ongoing military activity in the Middle East,” says Erin Lantz, vice president of mortgages at Zillow. “This week, despite a fair amount of domestic economic data slated for release, we expect events in the Middle East and Ukraine will continue to put a damper on rates.”
Zillow’s real-time mortgage rates are based on thousands of custom mortgage quotes submitted daily to anonymous borrowers on the Zillow Mortgages site, and reflect the most recent changes in the market. These are not marketing rates, or a weekly survey.
The rate for a 15 year fixed home loan is currently 3.01 percent, while the rate fora 5-1 adjustable rate mortgage (ARM) is 2.77 percent.
For more information, visit http://www.zillow.com/mortgage-rates.
Rates are so incredibly l0w right now that it’s the right time to buy your new home at Pingry Hill. Contact us today to learn more about our gorgeous floor plans, available lots and move-in ready homes. We have over 20 home plans to choose from and prices starting in the $350’s.
Have you seen the recent rates for mortgages? They are incredibly low, making this the BEST TIME TO BUY!
These percentage rates are so low and affordable and our buyers are taking advantage of all the savings. Take a drive through our neighborhood and see for yourself why we are building and selling out so quickly. Pingry Hill has so much to offer and we welcome you to visit us and learn more!