mortgage trends 2

The current average 30-year fixed mortgage rate fell 3 basis points from 3.94% to 3.91% on Tuesday, Zillow announced.

The 30-year fixed mortgage rate on February 7, 2017 is down 5 basis points from the previous week’s average rate of 3.96%.

Additionally, the current national average 15-year fixed mortgage rate decreased 3 basis points from 3.14% to 3.11%. The current national average 5/1 ARM rate is down 2 basis points from 2.97% to 2.95%.