Mortgage Loans

Federal Funds Rate - Trends & Analysis:

Today’s Fed Funds Effective Rate is 3.75%, unchanged from 1, 7, 30, 60, 90, and 180 days ago. It is lower than one year ago and two years ago. When the Fed Funds rate is higher, it can increase mortgage rates as borrowing costs rise for lenders.

Credit Union Loan Rates - Trends & Analysis:

Empower offers a 15-year fixed rate at 6.0%, up 25 bp from last week, and a 30-year fixed rate at 6.5%, up 13 bp over the same period. The 15-year fixed rate is also up 13 bp from a month ago. The 10-year fixed rate matches the 15-year at 6.0%, with the same 25 bp weekly increase. Jovia Financial offers a 15-year conventional fixed rate at 5.875%, up 13 bp from a week ago. Their 30-year conventional fixed and FHA fixed rates hold steady at 6.375%. The 30-year VA fixed rate remains at 6.5%, while the 30-year jumbo fixed rate rose 13 bp to 7.0%. The 7-year adjustable rate is steady at 5.875%.

Mayo Employees offers a 15-year conventional fixed rate at 5.875% and a 30-year conventional fixed rate at 6.5%, both steady from prior weeks. Their 15-year conventional refinance rate is 6.127%. They also have adjustable rates at 5 years and 7 years, today 5.625% and 5.75%, respectively. People First offers a 15-year conventional fixed rate today at 5.875%, unchanged from last week but up 25 bp from two weeks ago. Their 30-year conventional fixed rate is 6.5%, also steady this week but up 50 bp from a month ago. The 30-year FHA fixed rate holds steady at 6.25%. For adjustable rates, the 5-year ARM is 5.5%, up 25 bp from two weeks ago, and the 10-year ARM is 5.99%, also up 25 bp from two weeks ago.

Sunmark offers a 15-year conventional fixed rate at 6.25%, up 13 bp from a week ago. Their 30-year conventional fixed rate is 6.375%, down 13 bp over the same period. The 30-year FHA fixed rate is 6.25%, rising 13 to 25 bp depending on the timeframe. The 30-year VA fixed rate is 6.5%, up 13 bp. The 5-year ARM is at 5.875%, down 12 bp from last week. Abound shows a 15-year conventional fixed rate today at 5.875%, up 13 bp from a week ago. The 30-year conventional fixed rate is 6.625%, also up 13 bp over the last seven days. The 30-year VA fixed rate is 6.25%, rising 13 bp in the past week. Additionally, the 30-year jumbo and 5- and 7-year adjustable rates are all at 6.625%, each up 13 bp from a week ago.

Advia offers a 15-year Conventional Fixed mortgage at 5.875% today, down 25 bp from 30 days ago. Their 30-year Conventional Fixed rate holds steady at 6.625%. For adjustable rates, the 5-year ARM is at 5.875% and the 7-year ARM is at 6.0%, both unchanged. Alabama One offers a 15-year fixed rate today at 5.875%, unchanged from last week but up 25 bp from a month ago. Their 30-year fixed rate is 6.625%, steady over the past week and up 13 bp from 30 days back.

Baxter offers a 15-year conventional fixed rate at 5.875%, up 13 bp from a week ago, and a 30-year conventional fixed at 6.625%, also up 13 bp. Their 30-year jumbo fixed rate holds steady at 6.25%. The 5-year ARM is at 5.375%, rising 13 bp from last week. Clearview has a 15-year fixed rate today at 5.875%. The 30-year fixed rate is 6.625%, up 13 bp from a week ago and 25 bp from 30 days ago.