30-Year Fixed Mortgage Rates Spike 50 Basis Points to Highest Levels Since July 2011 | Cross River Real Estate

Mortgage rates for 30-year fixed mortgages rose this week, with the current rate borrowers were quoted on Zillow Mortgage Marketplace at 4.38 percent, up from 3.88 percent at this same time last week.

The 30-year fixed mortgage rate hovered between 3.82 and 4 percent late last week, before spiking near the current rate over the weekend. This represents the highest rate on Zillow Mortgage Marketplace since July 2011.

“Last week rates spiked to levels not seen since July 2011 after Federal Reserve Chairman Ben Bernanke reiterated the Fed’s commitment to scale back its stimulus program later this year,” saidErin Lantz, director of Zillow Mortgage Marketplace. “This coming week, we expect rates will be volatile as the market recalibrates and determines whether we’ve reached a new plateau near 4.5 percent or whether this week’s rate spike was an overreaction that warrants a downward adjustment.”

Additionally, the 15-year fixed mortgage rate this morning was 3.41 percent, and for 5/1 ARMs, the rate was 3.18 percent.

What are the rates right now? Check Zillow Mortgage Marketplace for up-to-the-minute mortgage ratesfor your state.

06-25-13 0954 AM

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



30-Year Fixed Mortgage Rates Spike 50 Basis Points to Highest Levels Since July 2011 | Zillow Blog.

About robertpaulrealtor 914-325-5758

Realtor in Bedford NY specializing in marketing and selling luxury homes and finding the perfect homes for new buyers. Working in Armonk, Katonah, Pound Ridge, Lewisboro, Chappaqua and North Salem. 914-325-5758 robert.paul@elliman.com
This entry was posted in Cross River NY Real Estate and tagged , , , . Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s