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Today’s Fed Funds Effective Rate is 4.00%, higher than 7, 30, 60, and 90 days ago when it was 3.75%. When the Fed Funds rate rises, it can increase mortgage rates because lenders face higher borrowing costs.
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%.
First Entertainment offers a 15-year conventional fixed rate at 6.625% today, up 38 bp from last week and 63 bp from 30 days ago. Their 30-year conventional fixed rate is 6.875%, rising 25 bp over the past week and 38 bp over the month. The 15-year conventional refinance rate is 6.5%, up 25 bp in the last week and 50 bp from 30 days prior. The 30-year conventional refinance and jumbo 30-year fixed rates both stand at 6.875%, each up 25 bp this week and 38 bp over 30 days. FHA 3-year ARM is at 6.25%, up 25 bp this week and 38 bp in 30 days.
Schoolsfirst offers a 15-year conventional fixed rate at 5.875% and a 30-year conventional fixed rate at 6.625% today. Their 15-year conventional refinance rate is 6.0%, while the 30-year conventional refinance is 6.75%. The 30-year fixed FHA and Jumbo loans are also at 6.625%. The 30-year conventional fixed rate rose 13 bp over the past week and 25 bp over the past month. Navy Federal Credit Union has a 15-year Conventional Fixed rate today at 6.0%, up 38 bp from a week ago. The 30-year Conventional Fixed rate is 6.625%, also up 38 bp over seven days and 50 bp higher than 30 days ago. The 30-year VA Fixed rate stands at 6.25%, increasing 38 bp in the past week. FHA 3-year ARM is at 5.625%, with a 25 bp rise in the last seven days. The 5-year ARM is 5.875%, up 25 bp this week.
Patelco offers a 15-year conventional fixed rate at 6.625%, up from 6.125% a week ago, and a 30-year conventional fixed at 7.0%, up from 6.625%. The 15-year conventional refinance rate is 6.625%, higher than last week’s 6.375%, while the 30-year conventional refinance is 7.0%, up from 6.875%. Adjustable 5-year ARMs are at 5.75%, up from 5.625%, and 10-year ARMs are at 6.125%, up from 6.0%. Jumbo 30-year fixed loans are at 7.0%, up from 6.875%.
The Golden 1 offers a 15-year conventional fixed at 6.0% today, up 38 bp from last week, and a 30-year conventional fixed at 6.75%, also up 38 bp. Their 30-year conventional refinance is 7.0%, up 25 bp. FHA 30-year fixed is 6.49%, up 12 bp. Jumbo 30-year fixed is 6.375%. Adjustable-rate 5- and 7-year terms are both 5.75%, with the 5-year down 13 bp and the 7-year down 25 bp from last week. The 10-year adjustable is 6.0%, down 13 bp. Dupaco Community offers a 15-year conventional fixed at 6.38%, up 25 bp from a week ago and 50 bp higher than 30 days back. Their 30-year conventional fixed is 6.75%, rising 38 bp over the past week and 38 bp since 30 days ago. The same rates apply for the 15- and 30-year conventional refinances with similar changes.
Digital shows a 15-year conventional fixed rate today at 6.75%, up 38 bp from last week and 63 bp from 30 days ago. The 30-year conventional fixed rate is 7.375%, up 38 bp from last week and 50 bp from 30 days ago. The 15-year conventional refinance rate is 6.625%, up 13 bp from last week and 50 bp from 30 days ago. The 30-year conventional refinance rate holds steady at 7.375%, up 38 bp from 30 days ago. Jumbo 30-year fixed is 7.25% today, up 50 bp from 30 days ago. Safe offers a 30-year conventional fixed mortgage at 6.63% today. This rate is up 13 bp from last week and 38 bp higher than a month ago.
Pentagon offers a 30-year Conventional Fixed at 6.625% today, up 13 bp from last week and 38 bp from a month ago. Their 30-year Conventional Refinance Fixed is at 6.75%, also up 13 bp from last week and 50 bp from a month ago. The 30-year FHA Fixed rate is 6.125%, rising 13 bp since last week and 38 bp over the past month. The 30-year VA Fixed is steady today at 6.125%, with a 38 bp increase from a month ago. Jumbo 30-year Fixed loans are at 6.625%, up 25 bp from last week and 38 bp from a month ago.
Today, Zillow’s 30-year mortgage rate is 6.855%, and Freddie Mac’s 30-year rate is 6.950%, with Zillow slightly lower than Freddie Mac. Zillow’s 30-year rate is higher than it was 7 days ago. These rates reflect the cost borrowers face for long-term home loans, which can influence how many people decide to buy or refinance homes.
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