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Real Estate

30-year fixed mortgage rate hits 5-month high

comp:00005104ecac:0000001dae:3e27 0 <div class="the-content clearfix"><p><a href="http://www.zillow.com/mortgage-rates/">Mortgage rates</a> for <a href="http://www.zillow.com/30_Year_Fixed_Mortgage_Rates/">30-year fixed</a> mortgages rose this week, with the current rate borrowers were quoted on Zillow Mortgage Marketplace at 3.42 percent, up from 3.28 percent at this same time last week.</p> <p>After jumping to 3.45 percent on Friday, the 30-year fixed rate stayed flat over the remainder of the week, falling to the current rate this morning.</p> <p>“Mortgage rates spiked to a 5-month high last week as markets reacted to positive domestic and international economic news. Another strong weekly jobs report suggested the U.S. economic recovery is picking up steam,” said <a href="http://www.zillow.com/blog/author/erinlantz/">Erin Lantz</a>, director of Zillow Mortgage Marketplace. “Abroad, markets welcomed news that many banks were planning to pay back the European Central Bank earlier than expected, suggesting some underlying strength in a European economic recovery.</p> <p>&#8220;If we continue to see the steady stream of strong economic indicators this week, we anticipate rates will rise slightly higher,” added Lantz.</p> <p>Additionally, the <a href="http://www.zillow.com/15_Year_Fixed_Mortgage_Rates/">15-year fixed</a> mortgage rate this morning was 2.71 percent, and for <a href="http://www.zillow.com/5-1_ARM_Mortgage_Rates/">5/1 ARM</a>s, the rate was 2.43 percent.</p> <p>What are the rates right now? Check <a href="http://www.zillow.com/mortgage-rates/">Zillow Mortgage Marketplace</a> for up-to-the-minute <a href="http://www.zillow.com/mortgage-rates/">mortgage rates</a> for your state.</p> <p style="text-align: left;"><a href="http://www.zillow.com/mortgage-rates/"><img class="aligncenter size-full wp-image-109707" alt="01-29-13 10 20AM" src="http://cdn2.blog-media.zillowstatic.com/1/01-29-13-10-20AM-da6fd7.png" width="503" height="233"/></a><em>*The weekly rate chart illustrates the average 30-year fixed interest rate in six-hour intervals.</em></p> </div>
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