Mortgage Loans in Norfolk, VA

Federal Funds Rate - Trends & Analysis:

Today’s Fed Funds Effective Rate is 4.00%. This is higher than 30 days ago when it was 3.75%. When the Fed Funds rate rises, it can increase mortgage rates because lenders face higher borrowing costs.

Credit Union Loan Rates - Trends & Analysis:

Langley offers a 15-year conventional fixed rate at 5.75% and a 30-year conventional fixed rate at 6.375%. Their 30-year conventional refinance is 5.903%, while the 30-year FHA fixed rate is 6.625%. The 30-year VA fixed rate is 6.5%, and the 5-year ARM fixed rate is 6.0%. Affinity Plus offers a 30-year Conventional fixed rate at 7.5%, up 25 bp from last week and 75 bp higher than a month ago. The 15-year Conventional fixed rate is 7.0%, rising 25 bp in the past week and 88 bp over 30 days. VA and Jumbo 30-year fixed loans are also at 7.5%, with the same weekly and monthly increases as Conventional. Adjustable 5-year and 7-year ARMs are at 5.875% and 6.125%, each up 38 bp this week and 63 bp over the past month.

1St Advantage offers a 15-year conventional fixed rate at 6.0% today, up 25 bp from a week ago. The 30-year conventional fixed rate is 6.5%, rising 51 bp in the past week. Their 30-year conventional refinance rate is 6.375%, up 38 bp over seven days. The 15-year conventional refinance rate matches the purchase rate at 6.0%, also up 25 bp. The 5-year ARM fixed rate remains steady at 5.875%. Delta Community offers a 15-year Conventional ARM today at 6.0%, up 38 bp from a week ago. Their 30-year Conventional ARM is 6.875%, also up 38 bp over the last seven days. Both rates have increased by 50 bp compared to two weeks ago.

Navy Federal Credit Union offers a 15-year conventional fixed rate at 6.25% and a 30-year conventional fixed at 6.875%, both unchanged in the past week. Their 15-year conventional refinance is 6.125%, up 13 bp in seven days, while the 30-year conventional refinance is 6.5%, down 13 bp in 30 days. The 30-year VA fixed rate is 6.5%, up 25 bp in 30 days. Their 15-year and 30-year adjustable-rate mortgages stand at 5.875% and 6.125%, respectively, with recent increases of 25 to 50 bp. Virginia offers a 15-year and 30-year Conventional Fixed mortgage at 6.625% and 7.25%, respectively. FHA 30-year Fixed is available at 6.875%, and Jumbo 30-year Fixed is at 6.75%. Rates are steady with no recent changes shown.

America First offers a 15-year conventional fixed rate at 6.625%, unchanged from a week ago but up 75 bp from a month ago. Their 30-year conventional fixed rate is 7.25%, steady from last week and up 63 bp over 30 days. The 30-year conventional refinance rate rose 13 bp in the past week to 7.25%. FHA 30-year fixed loans are at 7.0%, with a 50 bp increase in the last week and 75 bp over 30 days. VA 30-year fixed rates are 7.0%, down 13 bp from a week ago but up 63 bp over 30 days.

Dupaco Community offers a 15-year conventional fixed rate at 6.63% today, down 12 bp from last week but up 50 bp from a month ago. The 30-year conventional fixed and 30-year conventional refinance rates are both 7.13%, unchanged from last week but up 63 bp from a month ago. The 15-year conventional refinance rate is 6.75%, steady from last week and up 63 bp from a month ago. Digital shows a 15-year conventional fixed rate at 7.0% and a 30-year conventional fixed rate at 7.875% today. The 30-year fixed rate rose 25 bp from a week ago and 100 bp from a month ago. Their 15-year conventional refinance rate is also 7.0%, while the 30-year conventional refinance rate is 7.875%, up 13 bp from last week and 75 bp from last month. The Jumbo 30-year fixed rate is 7.625%, up 13 bp from last week.

Pentagon offers a 30-year Conventional fixed rate at 7.0% and a 30-year Conventional rate at 7.125%, both up 38 bp from 15 days ago and 75 bp from 30 days ago. The FHA and VA 30-year fixed rates are each 6.5%, also up 38 bp over 15 days and 75 bp over 30 days. The Jumbo 30-year fixed rate is 7.0%, up 25 bp from a week ago and 75 bp from a month ago.