30-Year Fixed Mortgage Rates Surge Above 4 Percent
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SEATTLE, March 14, 2017 (GLOBE NEWSWIRE) -- The 30-year fixed mortgage rate on Zillow® Mortgages is currently 4.10 percent, up 13 percentage points from this time last week. The 30-year fixed mortgage rate rose steadily to the current rate on Friday, then hovered there for the rest of the week.
“Mortgage rates rose by about 10 basis points last week after strong labor market data solidified expectations for the FOMC to lift interest rates this week,” said Erin Lantz, vice president of mortgages at Zillow. “Though a move by the FOMC on Wednesday is largely already priced into markets, rates should move somewhat higher after the announcement, particularly if forward looking statements are hawkish. While the Fed is likely to dominate markets’ attention this week, smaller potential risk events include U.S. inflation and retail sales data on Wednesday morning and Dutch elections mid-week.”
Zillow’s real-time mortgage rates are based on thousands of custom mortgage quotes submitted daily to anonymous borrowers on the Zillow Mortgages site and reflect the most recent changes in the market. These are not marketing rates, or a weekly survey.
The rate for a 15-year fixed home loan is currently 3.26 percent, while the rate for a 5-1 adjustable-rate mortgage (ARM) is 3.07 percent.
Below are current rates for 30-year fixed mortgages by state. Additional states’ rates are available at: http://www.zillow.com/mortgage-rates .
| State | Current 30-Year Fixed Rate (3/14/17) | Last Week’s 30-Year Fixed Rate (3/7/17) | Change in Basis Points | ||||
| California Mortgage Rates | 4.09 | % | 3.97 | % | +12 | ||
| Colorado Mortgage Rates | 4.10 | % | 3.96 | % | +14 | ||
| Florida Mortgage Rates | 4.09 | % | 3.95 | % | +14 | ||
| Illinois Mortgage Rates | 4.11 | % | 3.97 | % | +14 | ||
| Massachusetts Mortgage Rates | 4.07 | % | 3.97 | % | +10 | ||
| New Jersey Mortgage Rates | 4.09 | % | 3.96 | % | +13 | ||
| New York Mortgage Rates | 4.20 | % | 4.08 | % | +12 | ||
| Pennsylvania Mortgage Rates | 4.11 | % | 3.95 | % | +16 | ||
| Texas Mortgage Rates | 4.09 | % | 3.95 | % | +14 | ||
| Washington Mortgage Rates | 4.12 | % | 3.98 | % | +14 | ||
About Zillow Mortgages Zillow Mortgages, operated by Zillow, Inc., is a free, open, and transparent lending marketplace, where borrowers connect with lenders to find loans and get the best mortgage rates . Borrowers anonymously submit loan requests and receive an unlimited number of custom mortgage quotes with real rates directly from thousands of competing lenders. Zillow Mortgages also provides mortgage calculators , mortgage advice , mortgage widgets , and lender directories .
Zillow is a registered trademark of Zillow, Inc.
Media Contact: Catharine Neilson, Zillow
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