Mortgage Loans in Saint Michael, MN

Federal Funds Rate - Trends & Analysis:

Today’s Fed Funds Effective Rate is 3.75%, unchanged from 7, 30, 60, and 90 days ago. When the Fed Funds rate is higher, it can put upward pressure on mortgage rates because lenders’ borrowing costs increase.

Credit Union Loan Rates - Trends & Analysis:

Affinity Plus offers a 15-year Conventional fixed rate at 6.125% and a 30-year Conventional fixed and refinance rate at 6.75%. The VA 30-year fixed rate is 7.25%. Adjustable rates include 5-year ARMs at 5.25% and 7-year ARMs at 5.5%, all unchanged from recent weeks. Affinity offers a 15-year conventional fixed rate today at 5.375%, down 13 bp from last week but up 13 bp from a month ago. Their 30-year conventional fixed rate is 6.0%, also down 13 bp from last week and up 13 bp from a month ago. FHA fixed rates are 5.625% for 3-year, 5.75% for 5-year, and 6.0% for 7-year terms, each down 13 bp from last week and up 13 bp from a month ago.

Topline Financial offers a 15-year conventional fixed rate at 5.875%, slightly lower than three weeks ago. Their 30-year conventional fixed rate holds steady at 6.625%. Adjustable rates for 5, 7, and 10 years are also available, with the 5-year ARM at 5.375%, the 7-year at 5.625%, and the 10-year at 5.875%. City & County shows a 15-year conventional fixed rate today at 6.0%, up 13 bp from last week and 25 bp from a month ago. Their 30-year conventional fixed rate is 6.625%, also up 13 bp over seven days and 25 bp over 30 days. For adjustable rates, the 5-year ARM is at 5.5%, rising 13 bp in the past week and 25 bp in the last month, while the 7-year ARM is 5.75%, with the same weekly and monthly increases. The 10-year ARM stands at 6.0%, up 13 bp this week and 25 bp since a month ago.

Consumers offers a 15-year conventional fixed rate at 5.5% and a 30-year conventional fixed rate at 6.75%, both unchanged this week. Jumbo loans have a 30-year fixed rate at 6.875%. The FHA 5-year ARM is at 6.0%, down 13 bp from 30 days ago. Northrop Grumman offers adjustable-rate mortgages with 3-year today at 5.5%, 5-year at 5.625%, and 7-year at 6.125%. These rates have held steady over the past week and month.

Navy Federal Credit Union has a 15-year Conventional fixed rate today at 5.625%, up 13 bp from last week. The 30-year Conventional fixed rate is 6.25%, also up 13 bp over seven days. Their 15-year Conventional refinance rate is 5.625%, rising 13 bp in the past week. The 30-year Conventional refinance rate is 6.25%, up 13 bp from last week. The 30-year VA fixed rate holds steady at 5.75%. The 30-year Jumbo fixed rate is 6.5%, up 13 bp in seven days. Connexus offers a 15-year conventional fixed rate today at 5.625% and a 30-year conventional fixed rate at 6.375%. Their FHA 3-year ARM is at 4.99%, the 5-year ARM is 5.375%, and the 7-year ARM is 5.625%. These rates have held steady compared to recent data.

America First offers 15-year and 30-year Conventional Fixed loans at 5.75% and 6.5%, respectively. Their 30-year FHA Fixed rate is 6.0%, down 13 bp from a week ago. The 30-year VA Fixed rate is 6.125%, also down 13 bp over the past week. Rates have been steady for Conventional loans this month. Wings Financial offers a 15-year Conventional Fixed rate at 5.625% and a 30-year Conventional Fixed rate at 6.5%, up 13 bp from a week ago. Their 15-year Conventional ARM is also 5.625%, while the 30-year Conventional ARM matches the 30-year Fixed at 6.5%, also up 13 bp. Adjustable rates include a 5-year ARM at 5.375% and a 7-year ARM at 5.625%, both steady from last week. The 10-year ARM is 5.875%, up 13 bp from seven days ago and 25 bp from 30 days ago. The Jumbo 30-year Fixed rate is 6.5%, up 13 bp from a week ago.