The current average 30-year fixed mortgage rate fell 3 basis points from 4.00% to 3.97% on Monday, Zillow announced.

The 30-year fixed mortgage rate on January 30, 2017 is equal to the previous week’s average rate of 3.97%.

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 2 basis points from 3.04% to 3.02%.

Source: Zillow