Real-estate website Zillow Inc. Z -2.93% said its real-time rate on 30-year fixed-rate mortgages increased in the latest week, rising for a second straight week.
The 30-year fixed-mortgage rate on Zillow's Mortgage Marketplace, which tracks mortgages on the company's website, was up at 4.25% from 4.14% a week earlier.
Although Federal Reserve Chairman Ben Bernanke has said the central bank is committed to keeping short-term interest rates low for an extended period, Zillow expects upward pressure and volatility in mortgage rates, according to Svenja Gudell, economic research director at Zillow.
"This week will bring more movement as a lot of important economic data is set to be released," Ms. Gudell said.
Zillow said the rate for a 15-year fixed home loan was 3.22% compared with 3.13% last week. The rate for a 5-1 adjustable-rate mortgage was 2.72%, unchanged from the previous week. A 5-1 ARM has an initial rate that applies for the first five years of the loan and then adjusts annually.
Zillow's real-time mortgage rates are based on thousands of custom mortgage quotes submitted daily to anonymous borrowers through the company's website.
Source: http://www.marketwatch.com/story/30-year-mortgage-rate-rises-again-zillow-2013-12-03?reflink=MW_news_stmp
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The 30-year fixed-mortgage rate on Zillow's Mortgage Marketplace, which tracks mortgages on the company's website, was up at 4.25% from 4.14% a week earlier.
Although Federal Reserve Chairman Ben Bernanke has said the central bank is committed to keeping short-term interest rates low for an extended period, Zillow expects upward pressure and volatility in mortgage rates, according to Svenja Gudell, economic research director at Zillow.
"This week will bring more movement as a lot of important economic data is set to be released," Ms. Gudell said.
Zillow said the rate for a 15-year fixed home loan was 3.22% compared with 3.13% last week. The rate for a 5-1 adjustable-rate mortgage was 2.72%, unchanged from the previous week. A 5-1 ARM has an initial rate that applies for the first five years of the loan and then adjusts annually.
Zillow's real-time mortgage rates are based on thousands of custom mortgage quotes submitted daily to anonymous borrowers through the company's website.
Source: http://www.marketwatch.com/story/30-year-mortgage-rate-rises-again-zillow-2013-12-03?reflink=MW_news_stmp
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