30-Year Fixed Mortgage Rates Increase for First Time Since March

Alexa Fiander
May 7, 2013

Mortgage rates for 30-year fixed mortgages increased this week, with the current rate borrowers were quoted on Zillow Mortgage Marketplace at 3.39 percent, up from 3.25 percent at this same time last week. This represents the first rate increase since late March.

The 30-year fixed mortgage rate hovered between 3.26 and 3.30 percent for the majority of the week before jumping up near the current rate on Friday.

“Last week, mortgage rates reversed their month-long decline on a stronger-than-expected jobs report,” said Erin Lantz, director of Zillow Mortgage Marketplace. “This coming week, we expect rates to remain fairly stable with limited news or economic data slated for release.”

Additionally, the 15-year fixed mortgage rate this morning was 2.56 percent, and for 5/1 ARMs, the rate was 2.32 percent.

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

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*The weekly rate chart illustrates the average 30-year fixed interest rate in six-hour intervals.