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Mortgage Rate Update – April 29, 2015

Mortgage rates for 30-year fixed mortgages rose this week, with the rate borrowers were quoted on Zillow Mortgages at 3.61 percent on Tuesday, up 8 basis points from the same time last week.

The 30-year fixed mortgage rate rose early in the week, then hovered around 3.60 percent before rising to the current rate Tuesday.

“Rates were essentially flat last week, remaining in the range they have been in for the past month,” saidErin Lantz, vice president of mortgages at Zillow. “This week we expect little rate movement leading up to Wednesday’s Q1 GDP data release and the Fed Statement later that day, which has the potential to raise rates if incoming data are unexpectedly strong.”

Additionally, the 15-year fixed mortgage rate was 2.84 percent, and for 5/1 ARMs, the rate was also 2.84 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.

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