The 30-year fixed mortgage rate on
Zillow Mortgage Marketplace Z is currently 3.5 percent, up eight basis points
from 3.42 percent at this same time last week. The 30-year fixed mortgage rate
hovered between 3.4 and 3.6 percent for the majority of the week, dropping to
the current rate this morning.
"Rates hit 3.5 percent for the first time in 10 weeks, as sentiment toward
both Europe and the U.S. economy improved, reducing market expectations for a
third round of rate-lowering stimulus in the form of Quantitative Easing
(QE3)," said Erin Lantz, director of Zillow Mortgage Marketplace.
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