Wednesday, October 13, 2010

30-Year Fixed Mortgage Rate Falls To New Record Low for Fourth Consecutive Week; Current 30-Year Fixed Rate is 4.13%

Mortgage rates for 30-year fixed mortgages fell this week, with the current rate borrowers were quoted on Zillow Mortgage Marketplace at 4.13 percent, down from 4.16 percent at this same time last week. This rate represents the lowest rate recorded since Zillow Mortgage Marketplace launched in April 2008.



The 30-year fixed mortgage rate steadily declined in the early part of the week reaching a low of 4.07 percent on Friday, then hovered near 4.1 percent for the remainder of the week.

Additionally, the 15-year fixed mortgage rate on Tuesday morning was 3.65 percent and for 5/1 ARMs, the rate was 2.98 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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