Zillow Blog – Real Estate Market Stats, Celebrity Real Estate, and Zillow News
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.
This is encouraging news for prospective buyers who want to purchase a home soon.