Most mortgage rates have inched up today. According to Zillow, the 30-year fixed mortgage rate has increased by three basis points to 6.57%, and the 15-year fixed rate has risen by four basis points to 5.88%.
These small increases are likely a response to the latest labor data. Yesterday, the U.S. Bureau of Labor Statistics released the January jobs report, which showed that the unemployment rate fell to its lowest point in eight months. Mortgage rates tend to increase when the economy does well.
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Here are the current mortgage rates, according to the latest Zillow data:
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30-year fixed: 6.57%
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20-year fixed: 6.34%
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15-year fixed: 5.88%
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5/1 ARM: 6.87%
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7/1 ARM: 6.81%
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30-year VA: 5.98%
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15-year VA: 5.40%
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5/1 VA: 6.08%
Remember, these are the…
