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Real Estate

30-year fixed mortgage rate declines slightly

comp:000052e4dd17:0000007444:3ffa 0 <p>Mortgage rates for 30-year fixed mortgages <a href="http://homes.yahoo.com/news/30-fixed-mortgage-rate-remains-unchanged-190434776.html" rel="nofollow">fell this week</a>, with the current rate borrowers were quoted on Zillow Mortgage Marketplace 4.18 percent, down from 4.23 percent at this same time last week.<br /><br />The 30-year fixed mortgage rate remained stable for the majority of the week, peaking on Wednesday at 4.26 percent before dropping to the current rate over the weekend.<br /><br />&ldquo;Last week, rates dipped abruptly after China&rsquo;s lackluster manufacturing report triggered concerns about the health of the global economy,&rdquo; said Erin Lantz, director of mortgages at Zillow. &ldquo;This week, markets will look to Wednesday&rsquo;s Fed announcement about unwinding its stimulus program and Thursday&rsquo;s GDP numbers as indicators of whether the U.S. economy can continue to improve. Mortgage rates could be affected by either or both.&rdquo;<br /><br />Additionally, the 15-year fixed mortgage rate this morning was 3.18 percent and for 5/1 ARMs, the rate was 2.80 percent.</p>
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