Mortgage Rate Update

The rate borrowers were quoted on Zillow Mortgages was 3.66 percent.

Mortgage rates for 30-year fixed mortgages rose this week, with the current rate borrowers were quoted on Zillow Mortgages at 3.66 percent, up 3 basis points from last week.

The 30-year fixed mortgage rate rose early in the week, then hovered around 3.69 percent before dipping to the current rate.

“Mortgage rates increased last week as Wednesday’s Federal Open Market Committee meeting minutes solidified expectations of a December Fed rate hike,” said Erin Lantz, vice president of mortgages at Zillow. “This week, more market movement is likely, as all eyes will be watching mid-week Fed speeches and Friday’s monthly jobs report.”

Additionally, the 15-year fixed mortgage rate was 2.86 percent, and for 5/1 ARMs, the rate was 2.89 percent.

Check Zillow Mortgages for mortgage rate trends and up-to-the-minute mortgage rates for your state, or use the mortgage calculator to calculate monthly payments at the current rates.

*The weekly mortgage rate chart illustrates the average 30-year fixed interest rate in six-hour intervals.