30-Year Fixed Mortgage Rate Down Slightly

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Date:February 28, 2012 | Category:Finance | Author:

Mortgage rates for 30-year fixed mortgages fell this week, with the current rate borrowers were quoted on Zillow Mortgage Marketplace at 3.69 percent, down from 3.76 percent at this same time last week.

The 30-year fixed mortgage rate stayed below 3.8 percent for the entire week, hovering between 3.7 percent and 3.75 percent over the weekend. The rate then rose to 3.73 percent on Monday before dropping to the current rate early this morning.

“Rates dropped slightly this week on concerns over higher oil prices and ongoing uncertainty in Europe,” said Erin Lantz, director of Zillow Mortgage Marketplace. “Mortgage rates will remain fairly steady in the near-term.”

Additionally, the 15-year fixed mortgage rate this morning was 2.95 percent and for 5/1 ARMs, the rate was 2.65 percent.

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