Zillow 30-Year Fixed Rate Rises to 6.31%, 15-Year Hits 5.71%
Z•Zillow's lender marketplace data shows the national average 30-year fixed mortgage rate climbed nine basis points to 6.31%, while the 15-year fixed rate rose six basis points to 5.71%, marking a 29-basis-point increase year-to-date for both tenors. The 20-year fixed rate advanced 13 basis points to 6.22%.
1. Recent Mortgage Rate Trends
Zillow's lender marketplace data shows the national average 30-year fixed mortgage rate rose nine basis points to 6.31% in one day, the 20-year fixed rate increased 13 basis points to 6.22%, and the 15-year rate climbed six basis points to 5.71%, with the latter two up 29 basis points since January.
2. Potential Impact on Zillow's Marketplace
Higher mortgage rates typically dampen refinance and homebuying activity, which could reduce lead volume and transaction revenue on Zillow's platform as borrowers face increased borrowing costs and may delay or cancel purchase plans.
