Take advantage of low mortgage rates

low mortgage rates

If you’re considering purchasing a home, now is an ideal time with the 30-year fixed mortgage rate on Zillow(R) Mortgage Marketplace currently at 4.23 percent, down 16 basis points from 4.39 percent at this time a week ago. The 30-year fixed mortgage rate hovered near 4.39 percent for the majority of the week before sinking to 4.29 percent on Friday. Rates continued falling over the weekend and into this week.

“Rates dipped after Friday’s jobs report revealed employment below expectations by a wide margin,” said Erin Lantz, director of mortgages at Zillow. “Although disappointing, the jobs report on its own is unlikely to offset the overall upward trend in rates. This week, we expect rates to remain fairly stable as markets await additional data that might reinforce or contradict the relatively subdued economic tone set by the jobs report.”

Zillow’s real-time mortgage rates are based on thousands of custom mortgage quotes submitted daily to anonymous borrowers on the Zillow Mortgage Marketplace site, and reflect the most recent changes in the market. These are not marketing rates, or a weekly survey.

The rate for a 15-year fixed home loan is currently 3.20 percent, while the rate for a 5-1 adjustable-rate mortgage (ARM) is 2.83 percent.

View the current rates for 30-year fixed mortgages by state at http://www.zillow.com/mortgage-rates.

Call Prudential Select Properties at (314) 835-6000 or visit www.discoverstl.com so we can help you find your St. Louis dream home today!

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