Mortgage Rates Continue to Drop
Thirty-year fixed mortgage rates dropped again last week, with the weekly average rate borrowers were quoted on Zillow Mortgage Marketplace at 5.40%, down from 5.48% the week prior. For 15-year mortgages, borrowers were quoted on average, 4.79% and for 5-1 ARMs, 4.49%.
This is the third straight week of declining mortgage rates. As of Tuesday morning, the national rate for 30-year fixed purchase mortgages was even lower: 5.29%. Check out up-to-the-minute rate tables for more.
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