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 when it was 4.50%. When the Fed Funds rate is higher, mortgage rates often face upward pressure because lenders’ borrowing costs increase.

Credit Union Loan Rates - Trends & Analysis:

First Entertainment offers a 15-year Conventional Fixed at 6.125% and a 30-year Conventional Fixed at 6.625%, both unchanged from a week ago. The 15-year Conventional Refi is 6.125%, up 13 bp from last week, and the 30-year Conventional Refi is 6.625%, also up 13 bp. The 30-year Jumbo Fixed rate is 6.625%, steady from last week. Adjustable rates include a 3-year ARM at 6.0%, up 13 bp, a 5-year ARM at 6.125%, up 13 bp, a 7-year ARM at 5.875%, and a 10-year ARM at 6.5%, both up 13 bp. Magnifi Financial offers a 15-year conventional fixed rate at 6.125%, up 13 bp from last week. The 30-year conventional fixed and 30-year conventional refinance rates remain steady at 6.625%. The 30-year FHA fixed rate is 6.375%, unchanged from last week. The 15-year conventional refinance rate is 6.125%, steady from seven days ago.

Bethpage offers a 15-year conventional fixed rate at 6.375%, up 25 bp from last week, and a 30-year conventional fixed at 6.75%, up 13 bp. Their 30-year FHA fixed is 6.625%, also up 13 bp, while the 5-year ARM is 6.125%, rising 13 bp. The 7-year ARM is 6.375%, up 13 bp, and the 10-year ARM is 6.75%, up 13 bp. The Golden 1 offers a 15-year Conventional Fixed at 5.625% today, up 13 bp from a week ago. Their 30-year Conventional Fixed is 6.375%, also up 13 bp in the last week. The 30-year FHA Fixed stands at 6.375%, rising 25 bp over seven days. Jumbo 30-year Fixed loans are at 6.25% today, increasing from 6.0% two weeks ago. Adjustable rates include 5-year, 7-year, and 10-year ARMs, all near 5.625% to 5.875%, with small weekly changes.

Caped-Credit-Union has a 15-year conventional fixed rate today at 6.25%, up 25 bp from a week ago. Their 30-year conventional fixed rate is 6.75%, also up 25 bp in the last week. For refinances, the 15-year rate is 6.125%, up 25 bp, and the 30-year refinance rate is 6.875%, up 25 bp over seven days. The 30-year refinance rate is unchanged from a month ago. Rally offers a 15-year Conventional Fixed rate today at 6.125%, unchanged from a week ago but up 38 bp from a month earlier. The 30-year rates are not shown for today. This steady 15-year rate may suit buyers looking for a shorter-term fixed loan.

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. Texas Dow Employees offers a 15-year Conventional Fixed at 6.13%, up 13 bp from last week. Their 30-year Conventional Fixed and 30-year Conventional Refinance rates are both 6.75%, rising 12 bp over seven days. FHA and VA 30-year Fixed loans are at 6.38%, up 13 bp from a week ago. The 7-year ARM is 6.88%, unchanged from a month ago.

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%. America'S First offers a 15-year conventional fixed rate at 5.5%, up 25 bp from last week, and a 30-year conventional fixed rate at 6.25%, up 50 bp. Their 5-year ARM is 4.75%, also up 25 bp, and the 7-year ARM is 5.0%, up 25 bp.