Zillow Mortgage Rates Climb 11 bps to 6.20% for 30-Year Loans
Zillow’s mortgage marketplace reported the national average 30-year fixed rate rose 11 basis points to 6.20% this week, marking a second consecutive weekly increase. The average 15-year fixed rate climbed 8 basis points to 5.66%, while 20-year and various ARM and VA rates also ticked higher.
1. Weekly Rate Increase
Zillow’s lender marketplace data shows the national average 30-year fixed mortgage rate rose to 6.20%, up 11 basis points from last week, while the 15-year fixed rate increased by 8 basis points to 5.66%. This marks a second consecutive weekly uptick in fixed rates.
2. Broader Mortgage Rate Breakdown
Other rate categories also moved higher: the 20-year fixed rate sits at 6.01%, 5/1 ARM at 6.12%, 7/1 ARM at 5.96%, 30-year VA at 5.73%, 15-year VA at 5.24% and 5/1 VA at 5.43%. Refinance rates remain slightly elevated at 6.18% for 30-year fixed and 5.92% for 5/1 ARM.
3. Implications for Zillow Marketplace
Rising mortgage rates could dampen borrower demand and slow loan originations through Zillow’s lending platform, potentially reducing fee revenues. Continued rate volatility may prompt consumers to delay purchases or refinancing, impacting overall marketplace activity.