Zillow’s marketplace 30-year fixed mortgage rate fell 3 basis points to 6.35% while the 15-year fixed rate climbed 4 basis points to 5.78% and the 5/1 ARM decreased 2 basis points to 6.30%. Refinance rates held near purchase levels, with a 30-year fixed at 6.34% and 5/1 ARM at 6.25%.
Zillow’s lender marketplace saw the 30-year fixed mortgage rate dip by 3 basis points to 6.35%, while the 15-year fixed climbed by 4 basis points to 5.78% and the 5/1 ARM slid 2 basis points to 6.30%. Rates remain within a narrow range compared to last week.
Refinance rates mirrored purchase-rate stability, with the 30-year fixed at 6.34%, the 15-year fixed at 5.82% and the 5/1 ARM at 6.25%. The close alignment between purchase and refinance rates may influence borrower decisions on switching or obtaining new mortgages.
Stable national average rates could sustain listing and lending activity on Zillow’s platform, as marginal rate changes are unlikely to deter purchase or refinance applications. Consistent rate environment supports predictable revenue streams from lender partners.
