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30-Year Fixed Mortgage Rate Hits Record Low; Current 30-Year Fixed Rate Is 4.58 Percent
RISMEDIA, June 14, 2010 - The 30-year fixed mortgage rate on Zillow Mortgage Marketplace is currently 4.58%, down nine basis points from 4.67% at this same time last week. This is the lowest rate recorded since Zillow Mortgage Marketplace launched in April 2008. The 30-year fixed mortgage rate peaked Friday at 4.75% and fell the same day to below 4.7% before decreasing slowly through the weekend into today.
Zillow’s real-time mortgage rates are based on thousands of custom mortgage quotes submitted daily to anonymous borrowers through the 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 4.07%, while the rate for a 5-1 adjustable-rate mortgage (ARM) is 3.48%.
