Zillow lender marketplace: 30-year purchase rates at 6.31% and refinance at 6.34%
Z•Zillow's lender marketplace reports the average 30-year fixed purchase rate at 6.31%, down 4 basis points, and the 15-year fixed purchase rate at 5.74%, also 4 basis points lower. Refinance rates show the 30-year fixed at 6.34% (up 3 basis points), the 20-year fixed at 6.11% and the 15-year fixed at 5.82%.
1. Daily Purchase Rate Updates
The average 30-year fixed purchase rate in the Zillow lender marketplace slipped by 4 basis points to 6.31% yesterday, while the 15-year fixed purchase rate also declined 4 basis points to 5.74%. Meanwhile, the 20-year fixed purchase rate rose by 9 basis points to 6.19%, and the 5/1 ARM increased 1 basis point to 6.31%.
2. Refinance Rate Movements
Refinance rates showed the 30-year fixed at 6.34% (up 3 basis points), the 20-year fixed at 6.11%, the 15-year fixed at 5.82%, and the 5/1 ARM at 6.25%, highlighting slight lender repricing across terms. The 7/1 ARM also edged up to 6.35%, indicating varied adjustments across adjustable and fixed products.
3. Potential Marketplace Impact
These fluctuations in purchase and refinance rates could influence Zillow's lender marketplace activity by affecting borrower demand and lender pipelines, particularly if continued rate declines on fixed terms spur more purchase originations. Small rate movements may also impact refinance volumes as consumers weigh borrowing costs against closing expenses and long-term savings.
