Zillow Lender Rates: 30-Year Fixed Climbs to 6.26%, 5/1 ARM at 6.17%
Z•Zillow lender marketplace 30-year fixed purchase rates rose 7 basis points to 6.26% and 5/1 ARM rates climbed 11 basis points to 6.17% on July 1. The 15-year fixed rate ticked up to 5.71%, pushing purchase and refinance averages to multi-month highs that may curb mortgage referrals on Zillow.
1. Mortgage Rate Increases on July 1
On July 1, Zillow lender marketplace data show 30-year fixed purchase rates rose 7 basis points to 6.26%, 15-year fixed rates ticked up 1 basis point to 5.71%, and 5/1 ARM purchase rates climbed 11 basis points to 6.17%. National refinance rates mirrored purchase trends with 30-year fixed at 6.21% and 5/1 ARM at 6.15%, marking the highest averages since early May.
2. Potential Impact on Zillow’s Business
Rising mortgage rates can reduce housing affordability and slow loan originations, which may damp volume on Zillow’s lender marketplace. As referral fees are tied to successful loan matches, sustained rate increases risk limiting Zillow’s mortgage-related revenue if homebuyer demand continues to cool.
