Currently, the 30-year fixed mortgage rate on Zillow Mortgage Marketplace is 3.82 percent, which is up 13 basis points from 3.69 percent at this same time last week.
The 30-year fixed mortgage rate remained between 3.7 and 3.8 percent for the majority of the week, increasing to the current rate early this morning.
Erin Lantz, director of Zillow Mortgage Marketplace, stated "The 30-year fixed mortgage rate rose above 3.8 percent last week as more lenders increased their prices to cover a government-mandated fee on Fannie Mae and Freddie Mac loans. The new fee was voted on by Congress late last year to pay for the extension of a payroll tax deduction and federal unemployment benefits. Though the fee does not take effect until April 1, 2012, lenders already are incorporating it into their rates to cover for future closings."
Currently, the rate for a 15-year fixed home loan is 3.12 percent, while the rate for a 5/1 adjustable-rate mortgage is 2.76 percent.
Source: yahoo.com