According to Zillow, the mortgage rates for 30-year fixed home loans rose to 4.93% in both the U.S. last week, up substantially from the previous week. Just two weeks ago, national average thirty year fixed mortgage rates were 4.77%.
The volume of mortgage requests fell 26% nationally last week and of those requests, 63% were for purchase loans, 35% were for refinance loans and 2% were for home equity loans. Zillow also reported that mortgage rates for 15-year fixed mortgages also rose nationally.
