Zillow 30-Year Mortgage Rate Falls Seven Basis Points to 6.15%
Average 30-year fixed mortgage rate dropped seven basis points this week to 6.15%, while the 15-year fixed rate stands at 5.64%. Refinance rates have similarly edged lower, with 30-year refinancing averaging 6.26% and 15-year refinancing at 5.74%.
1. Weekly Rate Decline
The average 30-year fixed mortgage rate reversed course this week, dropping seven basis points to 6.15%, while the 15-year fixed rate settled at 5.64%. This marks the first weekly decrease after several weeks of rising rates.
2. Current Rate Breakdown
National averages for other products include a 20-year fixed at 5.97%, a 5/1 ARM at 6.44%, a 7/1 ARM at 6.36%, a 30-year VA at 5.73%, a 15-year VA at 5.38%, and a 5/1 VA at 5.58%.
3. Refinance Rate Trends
Refinance rates have edged lower as well, with the 30-year fixed refinance rate at 6.26%, 20-year at 6.21%, 15-year at 5.74%, 5/1 ARM at 6.39%, and VA refinance rates ranging from 5.21% to 5.44%.
4. Consumer and Market Impact
Lower rates could boost purchase affordability and drive refinancing volume, potentially increasing activity on Zillow’s lender marketplace and influencing mortgage-related revenue streams.