Expect rates to continue to rise
Housingwire – Ben Lane
The interest rate for a 30-year, fixed-rate mortgage rose last week, riding a wave of positive economic data according to a new report from Zillow (Z).
Current rate borrowers were quoted an average interest rate of 3.66% on Zillow’s Mortgage Marketplace in the week that ended Tuesday, up from 3.56% last week.
"Strong U.S. economic data pushed mortgage rates up last week, overcoming any potential headwinds from continued turmoil in Europe that would’ve pushed rates down," said Erin Lantz, vice president of mortgages at Zillow.
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