Zillow Marketplace: 30-Year Fixed Rate Jumps 11 Bps to 6.21%
Escalating U.S.-Iran tensions have driven up oil prices and mortgage rates, pushing the 30-year fixed mortgage rate to 6.21% (+11 basis points). Zillow’s lender marketplace shows the 15-year fixed rate at 5.63% (+1 bp) and the 20-year fixed rate at 6.14%.
1. Mortgage Rate Increases
Escalating U.S.-Iran tensions have stoked inflation worries, pushing up oil prices and driving the 30-year fixed mortgage rate 11 basis points higher to 6.21%. The 15-year fixed rate ticked up 1 basis point to 5.63% while the 20-year fixed rate rose to 6.14%.
2. Zillow’s Lender Marketplace Performance
Zillow’s lender marketplace data shows refinance rates have similarly climbed, with the 30-year refinance rate at 6.20% and the 15-year at 5.65%. Four lenders in the weekly survey now offer APRs below 6%, a factor that may influence borrowing decisions as rate volatility persists.