Update - Mortgage Rates

We have an update for the mortgage rates! 30-year fixed rate mortgage rates rose last week to 3.79 percent. This is up 2 basis points from last week. In the middle of the week last week the rate fell on Thursday and gently moved around 3.78 percent.

Erin Lantz, Vice President of mortgages at Zillow, had this to say about the increase, “Despite some volatility early on as markets parsed typically unimportant data for signals of the Fed’s first rate hike, mortgage rates remained flat with lenders focused on the Memorial Day holiday.”

For the 15-yaer fixed mortgage rate was 2.96 percent, and for 5/1 ARMs, their rate was 2.91 percent.

Stayed tune for the next update.

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