30-Year Fixed Mortgage Rises to 6.30% While 15-Year Slips to 5.67%
The national average 30-year fixed mortgage rate rose one basis point to 6.30% on April 2, while the 15-year rate fell six basis points to 5.67%. Refinance rates now stand at 6.42% for 30-year and 5.87% for 15-year, about 50 basis points above the three-year low reached before late February.
1. Mortgage Rate Movements on April 2
On April 2, the national average 30-year fixed mortgage rate edged up one basis point to 6.30%, while the 15-year fixed rate declined six basis points to 5.67%. Refinancing costs also shifted, with the 30-year refi rate at 6.42% and the 15-year refi at 5.87%, leaving both roughly 50 basis points above the three-year low logged before late February.
2. Implications for Zillow
Higher long-term borrowing costs could temper refinance volumes through Zillow Home Loans and dampen buyer traffic on the platform. Slower refinancing activity may narrow mortgage origination revenue, while elevated rates may constrain homebuying demand and advertising revenue linked to mortgage-related listings.