Zillow 30-Year Fixed Rate Rises to 6.38% While 20-Year Hits 6.39%
ZG•Zillow’s lender marketplace shows the 30-year fixed mortgage rate rising five basis points to 6.38%, the 20-year rate up 13 basis points to 6.39% and the 15-year rate climbing two basis points to 5.74%. Refinance averages stand at 6.30% for a 30-year fixed rate and 6.22% for a 20-year term.
1. Fixed-Rate Mortgage Climb
The 30-year fixed mortgage rate increased five basis points to 6.38%, while the 20-year fixed rate rose 13 basis points to 6.39% and the 15-year fixed rate inched up two basis points to 5.74%. ARM products also moved higher, with a 5/1 ARM averaging 6.32% and a 7/1 ARM at 6.25%.
2. Refinance Rate Snapshot
Refinance rates remain elevated, with a 30-year fixed refinance rate at 6.30%, a 20-year fixed at 6.22% and a 15-year fixed at 5.81%. VA loan refinance averages are at 5.78% for a 30-year term and 5.37% for a 15-year term.
3. Impact on Mortgage Marketplace
These upward shifts in both purchase and refinance rates could dampen application volumes through Zillow’s mortgage platform, as higher borrowing costs may deter potential buyers and refinancers. A slowdown in originations could pressure Zillow’s fee revenue and reduce ancillary service engagement in the near term.
