Mortgage Loans in Luray, VA

Federal Funds Rate - Trends & Analysis:

Today’s Fed Funds Effective Rate is 4.00%, which is higher than 7 days ago at 3.75%. When the Fed Funds rate rises, it can put upward pressure on mortgage rates because lenders face higher borrowing costs.

Credit Union Loan Rates - Trends & Analysis:

Affinity Plus offers a 15-year Conventional Fixed rate at 6.5% today, up 13 bp from a week ago and 38 bp over the past 30 days. The 30-year Conventional Fixed and Jumbo Fixed rates are both 7.0%, each up 13 bp from last week and 25 bp over 30 days. The VA 30-year Fixed rate is 7.625%, unchanged from a week ago but up 38 bp over 30 days. Adjustable-rate 5-year and 7-year ARMs hold steady at 5.25% and 5.5%. Consumers offers a 15-year Conventional Fixed at 5.5% and a 30-year Conventional Fixed at 7.125%, with the 30-year rate up 38 bp from 30 days ago. American has a 5-year ARM at 6.375%, which rose 38 bp over the past month. Jumbo loans include a 30-year Fixed at 7.125%, up 25 bp in 30 days.

Newport News Shipbuilding Employees offers a 15-year conventional fixed rate at 6.75%, up 25 bp from a week ago, and a 30-year conventional fixed at 7.125%, up 13 bp. The 30-year FHA fixed rate is steady at 6.5%, while the 30-year VA fixed is 6.875%, up 25 bp. The 10-year adjustable rate is 5.5%, up 25 bp from last week. Northrop Grumman offers 3-year fixed at 5.5%, 5-year fixed at 5.625%, and 7-year fixed at 6.125%, all steady from recent weeks. The 5-year fixed is today 5.625%.

Langley offers a 15-year Conventional Fixed rate at 5.75% and a 30-year Conventional Fixed rate at 6.375%, which is up 50 bp from 30 days ago. Their 30-year Conventional Refinance Fixed is 5.903%, up 28 bp over the same period. FHA 30-year Fixed is 6.625%, rising 25 bp in 30 days, while VA 30-year Fixed stands at 6.5%, also up 25 bp. 1St Advantage offers a 15-year conventional fixed rate at 5.75% and a 30-year conventional fixed rate at 6.125%, up 13 bp from two weeks ago. Their 30-year conventional refinance rate is steady at 5.99%. The 15-year conventional refinance rate holds at 5.75%, and the 5-year ARM is 5.875%, rising 13 bp from a month ago.

Affinity shows a 15-year conventional fixed rate today at 5.875%, up 25 bp from last week and 38 bp from 30 days ago. Their 30-year conventional fixed is 6.5%, also up 25 bp from last week and 38 bp from 30 days ago. FHA fixed rates for 3-year, 5-year, and 7-year terms are 6.125%, 6.25%, and 6.5%, each rising 25 bp over the past week and 38 bp over the past month.

Navy Federal Credit Union offers a 15-year Conventional fixed rate at 6.0% and a 30-year Conventional fixed rate at 6.625%, both unchanged from last week. Their 15-year Conventional refinance rate is 6.0%, up 38 bp from a week ago, while the 30-year Conventional refinance rate is 6.625%, also up 38 bp. The 30-year VA fixed rate is 6.25%, unchanged from a week ago but up 50 bp from a month ago. The 30-year Jumbo fixed rate is 6.875%, steady over the past week. The 3-year ARM Conventional rate is 5.625%, up 25 bp from last week, and the 5-year ARM Conventional rate is 5.875%, also up 25 bp. Chartway offers a 30-year conventional fixed mortgage at 6.05% today. This rate is down 70 bp from a week ago and 20 bp lower than a month ago.

Alliant offers a 15-year fixed conventional loan at 6.125% and a 30-year fixed conventional loan at 7.0% today. They also have adjustable-rate options for 5, 7, and 10 years fixed at 6.0%, 6.125%, and 6.375%, respectively. Rates have stayed steady over the past weeks.