Mortgage Rates Are on the Climb for the First Time Since March

This week we are experiencing an increase in Mortgage rates for 30-year fixed mortgage. This is the first increase we have seen since March.

According to Zillow Mortgage Marketplace, the current quote for borrowers comes in at 3.39 percent – a .14 percent increase from last week, while the Illinois Mortgage Rate has seen an even greater increase, coming in at 3.41% – a .17% increase from last week.

In the coming week, Zillow Mortgage Marketplace director Erin Lantz anticipates rates “to remain fairly stable with limited news or economic data slated for release.”

*The weekly rate chart illustrates the average 30-year fixed interest rate in six-hour intervals. (Image courtesy of Zillow Mortgage Marketplace)

The 15-year fixed mortgage rate was just above 2.5 percent, and for 5/1 ARMs, the rate was about 2 and three-eights.

What are the rates right now? Drop me an email, or give me a call to discuss your home financing options in detail.