Mortgage rates for 30-year fixed mortgages rose this week, with the current rate borrowers were quoted on Zillow Mortgage Marketplace at 3.47 percent, up from 3.46 percent at this same time last week.

The 30-year fixed mortgage rate hovered between 3.44 and 3.5 percent for the majority of the week, dropping to the current rate this morning.

“Mortgage rates fell slightly early last week as markets reacted to economic uncertainty in Cyprus, but later rebounded as the country emerged with a bailout plan.” said Erin Lantz, director of Zillow Mortgage Marketplace. “This coming week, we expect some volatility related to political uncertainty in Italy, but with a shortened U.S. trading week, we expect the impact to be muted.”

Additionally, the 15-year fixed mortgage rate this morning was 2.64 percent, and for 5/1 ARMs, the rate was 2.28 percent.

What are the rates right now? Check Zillow Mortgage Marketplace for up-to-the-minute mortgage rates for your state.

*The weekly rate chart illustrates the average 30-year fixed interest rate in six-hour intervals.