Rates Drop Below 4 Percent for 30-Year Fixed Mortgage

This week brought prospective homeowners great news, as 30-year fixed mortgages fell below 4 percent this week, according to Zillow, coming in at 3.97% (down from 4.05% from last week) this Tuesday.

Erin Lantz, vice president of mortgages of Zillow, shed some light on the recent market activity:

Rates dropped below 4 percent on Thursday amid the uncertainty and turmoil following the MH17 flight disaster and ongoing military activity in the Middle East. This week, despite a fair amount of domestic economic data slated for release, we expect events in the Middle East and Ukraine will continue to put a damper on rates.

To date, here is the weekly mortgage rate chart which illustrates the 30-year fixed interest rate based around 6-hour intervals (courtesy of Zillow).

Zillow expects purchase loan activity to increase by 4% from the previous week.

What do these numbers mean for your real estate experience? Don't hesitate to send us an email or give us a call with your questions - we'll be happy to help!

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