Zillow Data: 30-Year Fixed Purchase Rate at 6.40%, 2bp Above Refinance
ZG•Zillow lender marketplace shows 30-year fixed purchase loan at 6.40%, two basis points above the 6.38% refinance rate. The 15-year fixed purchase rate is 5.86% versus a 5.84% refinance rate, with 5/1 ARMs averaging 6.52% for purchases and 6.33% for refis.
1. Zillow Lender Marketplace Comparison
Daily data from Zillow’s lender platform reveal that purchase mortgage rates slightly exceed refinance rates, with the 30-year fixed purchase loan at 6.40% versus a 6.38% refinance rate. This two basis-point gap also appears in the 15-year fixed segment.
2. Detailed Rate Breakdown
Current national average rates include a 30-year fixed at 6.40%, 20-year fixed at 6.29%, 15-year fixed at 5.86%, 5/1 ARM at 6.52%, and 7/1 ARM at 6.30% for purchase loans. Refinancing averages sit at 6.38% for 30-year fixed, 6.12% for 20-year, 5.84% for 15-year, 6.33% for 5/1 ARM, and 6.04% for 7/1 ARM.
3. Implications for Zillow's Marketplace
A narrower spread between purchase and refinance rates could influence borrower decisions, potentially shifting volume toward refinancing. Fluctuations in these national averages may impact Zillow’s mortgage marketplace transaction revenues and lender partner activity.
