30-Year Fixed Mortgage Rates Rise Above 4%

Mortgage rates for 30-year fixed mortgages rose this week, with the current rate borrowers were quoted on Zillow Mortgages at 4.05 percent, up from 3.96 percent at this same time last week.

The 30-year fixed mortgage rate gradually increased last week, peaking at 4.19 percent on Saturday before coming down to the current rate.

"Rates rose steadily last week despite the lackluster jobs report released on Friday," said Erin Lantz, vice president of mortgages at Zillow. "This week, with little domestic economic news slated for release, we expect international news to determine whether rates will keep rising, or fall back below 4 percent."

Additionally, the 15-year fixed mortgage rate this morning was 3.11 percent, and for 5/1 ARMs, the rate was 2.88 percent.

Purchase Mortgage Application Activity

Zillow predicts tomorrow's seasonally adjusted Mortgage Bankers Association Weekly Application Index will show purchase loan activity increased by 4 percent from the week prior. To learn more about this Zillow analysis, click here.