Mortgage Loans

Federal Funds Rate - Trends & Analysis:

Today’s Fed Funds Effective Rate is 3.75%, unchanged from 1, 7, 30, 60, and 90 days ago. The rate is lower than one year ago when it was 4.50%. When the Fed Funds rate is higher, it can increase mortgage rates by raising borrowing costs for lenders.

Credit Union Loan Rates - Trends & Analysis:

Honor offers a 15-year fixed rate at 6.0% today, up 13 bp from a week ago. Their 30-year fixed rate is 6.5%, also up 13 bp over the same period. The 30-year FHA fixed rate stands at 6.375%, rising 13 bp from last week. Ithink Financial shows a 15-year conventional fixed rate today at 6.375%, up 25 bp from a week ago and 25 bp higher than a month ago. The 30-year conventional fixed rate is 6.875%, up 13 bp from last week but unchanged from a month ago. FHA 3-year fixed remains steady at 6.125%.

Members First offers a 15-year fixed rate at 6.25% and a 30-year fixed rate at 6.75% today. The 30-year fixed rate rose by 13 bp compared to 30 days ago. The 15-year fixed rate has stayed steady at 6.25%. Wescom Central offers a 15-year conventional fixed rate at 6.25%, up 13 bp from a week ago. Their 30-year conventional fixed rate is 6.875%, rising 25 bp in the last week. Adjustable rates include a 5-year ARM at 5.875%, which increased 25 bp over seven days, and a 7-year ARM at 6.125%, also up 25 bp. The 10-year ARM stands at 6.5%, climbing 25 bp this week.

Digital shows a 15-year conventional fixed rate today at 6.375%, up 25 bp from a week ago and 63 bp from a month ago. The 30-year conventional fixed rate is 7.0%, up 13 bp from a week ago and 50 bp from a month ago. The 30-year conventional refinance rate is also 7.0%, unchanged from a week ago but up 50 bp from a month ago.

First Technology offers a 15-year conventional fixed rate at 6.375%, up 25 bp from a week ago. The 30-year conventional fixed rate is 7.0%, unchanged from last week but up 13 bp from 30 days ago. Their 30-year jumbo fixed rate is 6.875%, steady from a week ago but 25 bp higher than 30 days prior. The 5-year adjustable rate is 6.25%, up 38 bp from a week ago and 50 bp from 30 days ago. The 7-year adjustable rate is also 6.25%, up 38 bp from a week ago and 30 days ago. The 10-year adjustable rate stands at 6.75%, down 13 bp from 30 days ago.

Tower offers a 15-year conventional fixed rate at 6.25%, up 25 bp from last week, and a 30-year conventional fixed at 6.75%, up 13 bp. Their 30-year VA fixed is 6.375%, also up 13 bp. For jumbo loans, the 30-year fixed rate is 7.0%, up 13 bp. FHA fixed rates include 3-year at 5.625% and 5-year at 5.875%, both up 13 bp. St. Mary'S Bank offers a 30-year conventional fixed mortgage at 6.5% today, up 13 bp from a week ago and 25 bp from 30 days ago. The 15-year conventional fixed rate is 5.625% as of today. Jumbo 30-year fixed loans are at 6.625%, rising 13 bp over the past week. The 5-year adjustable rate stands at 6.5%, also up 13 bp in the last week.

Gulf Winds offers a 15-year fixed rate at 6.5% and a 30-year fixed rate at 6.875%, both unchanged from recent weeks. Their adjustable rates include 3-year at 6.28%, 5-year at 6.39%, 7-year at 6.49%, and 10-year at 6.58%, all steady as well. North Country offers a 15-year fixed rate at 6.375%, up 25 bp from last week and 13 bp higher than a month ago. Their 30-year fixed rate is 6.5%, up 13 bp over both the past week and month.