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30-Year Fixed Mortgage Rate Falls Six Basis Points to New Record Low – 4.19%

Mortgage rates for 30-year fixed mortgages fell this week, with the current rate borrowers were quoted on Zillow Mortgage Marketplace at 4.19 percent, down from 4.25 percent at this same time last week. This rate represents the lowest rate recorded since Zillow Mortgage Marketplace launched in April 2008.

However, according to analysis by Zillow Mortgage Marketplace released yesterday, most Americans cannot obtain these rates due to less than optimal credit scores.

The 30-year fixed mortgage rate rose sharply to 4.26 percent on Friday and hovered near 4.24 percent for the remainder of the week before falling to the current rate.

Additionally, the 15-year fixed mortgage rate on Tuesday morning was 3.74 percent and for 5/1 ARMs, the rate was 3.1 percent.

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

This is encouraging news for prospective buyers who want to purchase a home soon.

Posted on Calabasas Homes-Calabasas Real estate – Santa Monica Homes-Santa Monica Real Estate

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