30-year mortgage rates return to historic low

Source: Zillow.com

Mortgage rates for 30-year fixed mortgages declined once again this week after rising to 4.07 the previous week, Zillow.com data shows, with the current rate borrowers were quoted on Zillow Mortgage Marketplace at 3.92 percent, a drop from last week. This is only the second time that the rate has dropped below 4 percent since Aug. 10 and is a return to the lowest rate recorded since Zillow Mortgage Marketplace launched in April 2008. The rate hovered between 3.98 percent and 4.05 percent before diving to the current rate early this morning, Zillow says. The rate for a 15-year fixed mortgage is 3.17. — Katherine Clarke