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Mortgage rates for 30-year fixed mortgages fell this week, with the current rate borrowers were quoted on Zillow Mortgage Marketplace at 4.07 percent, down from 4.09 percent at this same time last week.

After rising to 4.13 percent last Friday, the 30-year fixed mortgage rate hovered between 4 percent and 4.04 percent for the remainder of the weekend. The rate returned to 4.13 on Monday before falling to the current rate early this morning.

Additionally, the 15-year fixed mortgage rate this morning was 3.33 percent and for 5/1 ARMs, the rate was 2.84 percent