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:

Credit Union West offers a 15-year Conventional Fixed rate at 5.875% today, up 13 bp from a week ago. Their 30-year Conventional Fixed rate holds steady at 6.5%. The 30-year Conventional Refinance rate dropped 25 bp to 6.25%. FHA 30-year Fixed is steady at 6.0%, and the VA 30-year Fixed rate is 5.99% today, up 12 bp from 30 days ago. Jumbo 30-year Fixed remains at 6.5%. Diamond offers a 15-year fixed rate at 6.25%, up 13 bp from a week ago and 25 bp higher than 30 days prior. Their 30-year fixed rate is 6.625%, also up 13 bp over the past week and month. Rates have ticked up slightly this month for both terms.

Elements Financial offers a 15-year conventional fixed rate at 6.25%, up 13 bp from a week ago, and a 30-year conventional fixed at 6.625%, also up 13 bp over seven days. Their 15-year conventional refinance is 6.25%, rising 13 bp in the last week, while the 30-year conventional refinance is 6.75%, up 13 bp since last week. Rates have generally inched higher compared to early August. Midflorida offers a 30-year conventional fixed rate today at 6.625%, up 13 bp from a week ago and 25 bp from a month ago. Their 30-year conventional refinance rate is steady at 6.24%. The 7-year ARM fixed rate is 6.25%.

Ascend offers a 15-year conventional fixed rate at 6.25% and a 30-year conventional fixed rate at 6.75%, both unchanged over the past week but up 25 bp since early August. Their 30-year FHA fixed rate is 6.5%, up 13 bp from a month ago. The 30-year VA fixed rate remains steady at 6.625%. Credit Union Of America offers a 15-year conventional fixed rate at 6.375% today, unchanged from last week. Their 30-year conventional fixed rate is 6.75%, up 13 bp from seven days ago. Both rates have held steady compared to a month ago.

Harvard offers a 15-year fixed rate at 6.25%, up 13 bp from a week ago, and a 30-year fixed rate at 6.75%, also up 13 bp over the last week. Their Jumbo 30-year fixed rate is 6.625%, rising 13 bp in seven days. Rates for 15-year fixed have increased slightly since late August, while the 30-year fixed has held steady compared to a month ago. Magnifi Financial has a 15-year fixed rate at 6.25%, up 25 bp from a week ago. Their 30-year fixed rate is 6.75%, also up 13 bp in the past week. The 30-year FHA fixed rate is 6.375%, unchanged from a week ago. The 30-year VA fixed rate is 6.625%, rising 13 bp over seven days.

Fox Communities offers a 15-year conventional fixed rate at 6.25%, up 13 bp from two weeks ago, and a 30-year conventional fixed rate at 6.625%. The 15-year adjustable rate is at 6.625%, and the 10-year adjustable rate is 6.75%. These rates have held steady compared to a month ago. Frankenmuth offers a 15-year fixed rate at 6.25% today and a 30-year fixed rate at 6.75%. The 30-year fixed rate rose 13 bp over the past week. The 15-year fixed rate has held steady at 6.25% for several weeks.