Zillow Mortgage Rates Slide: 30-Year Fixed at 6.33%, 5/1 ARM 6.37%
Z•Zillow's mortgage marketplace showed the 30-year fixed fell 10 basis points to 6.33%, 15-year dropped 8 bp to 5.80%, and the 5/1 ARM declined 19 bp to 6.37%. Refinance 30-year fixed dipped to 6.30%, potentially boosting Zillow's referral volumes.
1. Mortgage Rate Movements
Zillow's mortgage marketplace showed on June 25 the 30-year fixed rate fell 10 basis points to 6.33%, the 15-year fixed rate dropped 8 basis points to 5.80%, and the 5/1 ARM declined 19 basis points to 6.37%.
2. Refinance Rate Trends
Refinancing costs also eased, with the 30-year fixed refinance rate dipping to 6.30% and the 20-year fixed at 6.10%, narrowing the gap between purchase and refinance rates.
3. Impact on Zillow's Mortgage Referrals
Lower rates typically stimulate borrowing and refinancing demand, which could boost volume and revenue for Zillow's lender marketplace through increased mortgage referral fees.
4. Market Context and Outlook
The current rate declines mark a week-over-week easing trend, suggesting potential lift in homebuyer activity if rates remain below seasonal averages.
