mortgage drop

The current average 30-year fixed mortgage rate fell 2 basis points from 3.96% to 3.94% on Tuesday, Zillow announced.

The 30-year fixed mortgage rate on January 3, 2017 is down 8 basis points from the previous week’s average rate of 4.02%.

Additionally, the current national average 15-year fixed mortgage rate decreased 3 basis points from 3.18% to 3.15%. The current national average 5/1 ARM rate is down 3 basis points from 3.14% to 3.11%.

Source: Zillow