The current average 30-year fixed mortgage rate fell 4 basis points from 3.86% to 3.82% on Tuesday, Zillow announced.

The 30-year fixed mortgage rate on April 11, 2017 is down 2 basis points from the previous week’s average rate of 3.84%.

Additionally, the current national average 15-year fixed mortgage rate decreased 3 basis points from 3.08% to 3.05%. The current national average 5/1 ARM rate is down 3 basis points from 2.91% to 2.88%.

“Mortgage rates edged slightly higher last week as the FOMC meeting minutes suggested the Fed may begin to unload its mortgage bond portfolio starting next year, and Friday’s jobs report showed a falling unemployment rate and strong wage gains despite weak employment growth in March,” said Erin Lantz, vice president of mortgages at Zillow. “This week markets will focus on speeches by several key FOMC officials, though barring unexpected geopolitical developments, markets are likely to remain quiet leading into the holiday weekend.”

 

State Current
30-Year
Fixed Rate
(4/11/17)
Last Week’s
30-Year
Fixed Rate
(4/4/17)
Change in
Basis
Points
California Mortgage Rates 3.84 % 3.84 % 0
Colorado Mortgage Rates 3.85 % 3.82 % +3
Florida Mortgage Rates 3.84 % 3.85 % -1
Illinois Mortgage Rates 3.86 % 3.84 % +2
Massachusetts Mortgage Rates 3.81 % 3.82 % -1
New Jersey Mortgage Rates 3.84 % 3.84 % 0
New York Mortgage Rates 3.95 % 3.96 % -1
Pennsylvania Mortgage Rates 3.83 % 3.83 % 0
Texas Mortgage Rates 3.84 % 3.83 % +1
Washington Mortgage Rates 3.86 % 3.83 % +3
Source:Zillow

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