30-Year Mortgage Rate Rises 8bps to 6.34%, Highest Since March
Zillow lender marketplace’s 30-year fixed rate jumped 8 basis points to 6.34%, its highest single-day level since late March’s 6.47%. National average purchase rates now stand at 6.34% for 30-year, 6.19% for 20-year and 5.67% for 15-year mortgages, while 30-year refinance rates rose to 6.33%.
1. Mortgage Rates Climb
The 30-year conventional fixed rate rose 8 basis points to 6.34%, marking its highest single-day gain since late March when it hit 6.47%. The increase tracked a similar rise in 10-year Treasury yields and reflects broader market tightening.
2. Current Rate Breakdown
Purchase mortgage averages now sit at 6.34% for 30-year fixed, 6.19% for 20-year fixed, 5.67% for 15-year fixed, 6.16% for 5/1 ARM and 6.10% for 7/1 ARM. Refinance rates have moved slightly higher, with a 30-year fixed at 6.33%, 20-year at 6.29% and 15-year at 5.80%.
3. Implications for Zillow Marketplace
Rising borrowing costs could dampen homebuying demand and refinancing applications on Zillow’s lender marketplace, potentially reducing lead volumes and fee revenue. Continued rate volatility underscores the sensitivity of Zillow’s mortgage segment to macro rate movements.