The 30-year fixed mortgage rate hovered around 3.85 percent for most of the week, dropping to 3.70 percent Wednesday before rising to the current rate.
“Last week mortgage rates experienced dramatic inter-day volatility, falling Wednesday to their lowest level since May 2013 fueled by global economic concerns and the potential threat of an Ebola epidemic,” said Erin Lantz, vice president of mortgages at Zillow. “With little mortgage market-moving data scheduled to be released next week, we expect rates to remain stable.”
Additionally, the 15-year fixed mortgage rate this morning was 2.97 percent, and for 5/1 ARMs, the rate was 2.80 percent.
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