Mostly Cloudy
82°FMostly CloudyFull Forecast

30-year fixed mortgage rate declines slightly

Published: Wednesday, Jan. 29, 2014 11:16 a.m. CDT

Mortgage rates for 30-year fixed mortgages fell this week, with the current rate borrowers were quoted on Zillow Mortgage Marketplace 4.18 percent, down from 4.23 percent at this same time last week.

The 30-year fixed mortgage rate remained stable for the majority of the week, peaking on Wednesday at 4.26 percent before dropping to the current rate over the weekend.

“Last week, rates dipped abruptly after China’s lackluster manufacturing report triggered concerns about the health of the global economy,” said Erin Lantz, director of mortgages at Zillow. “This week, markets will look to Wednesday’s Fed announcement about unwinding its stimulus program and Thursday’s GDP numbers as indicators of whether the U.S. economy can continue to improve. Mortgage rates could be affected by either or both.”

Additionally, the 15-year fixed mortgage rate this morning was 3.18 percent and for 5/1 ARMs, the rate was 2.80 percent.

Get breaking and town-specific news sent to your phone. Sign up for text alerts from the Suburban Life Media.

Watch Now

Player embeded on all SLM instances for analytics purposes.

Sandburg calls out 3 schools for ALS Ice Bucket Challenge

More videos »
 

Reader Poll

Do you make donations to charity?
Yes, every year to the same one
Yes, to different charities at different times
On a case by case basis
Not currently