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:

Hudson Valley shows a 15-year conventional fixed rate today at 6.125%, up 13 bp from a week ago. The 30-year conventional fixed rate is steady at 6.75%. Adjustable rates include a 5-year ARM at 5.5%, up 13 bp from last week, and a 7-year ARM at 5.625%, also up 13 bp. The 10-year ARM is at 6.0%, up 13 bp from seven days prior. Y-12 offers a 15-year conventional fixed rate today at 6.125%, up 13 bp from a week ago. The 30-year conventional fixed rate is 6.75%, also up 13 bp over the last week. Their 5-year adjustable rate is steady at 5.5%, down 113 bp from a month ago.

Charter Oak offers a 15-year fixed rate at 5.5% today and a 30-year fixed rate at 6.875%, which is up 25 bp from a week ago and 13 bp higher than 30 days ago. The 15-year fixed rate remains steady at 5.5%. Consumers offer a 15-year conventional fixed rate at 5.5% today and a 30-year conventional fixed at 6.875%, up 13 bp from last week. AmeriCU has a 5-year ARM at 6.125% today, up 13 bp from last week, while Jumbo 30-year fixed loans are at 7.0%, also up 13 bp over the past week.

Randolph Brooks shows a 15-year Conventional Fixed rate today at 5.75%, up 13 bp from 30 days ago. The 30-year Conventional Fixed and 30-year Conventional Refinance rates are both 6.75%, rising 25 bp over the past month. FHA and VA 30-year Fixed loans are at 6.375%, also up 25 bp since late June. The 5-year ARM rate is 5.5%, increasing 13 bp in 30 days. Publix Employees offers a 15-year conventional fixed rate at 5.58% today, down 2 bp from last week but up 8 bp from a month ago. Their 30-year conventional fixed rate is 6.22%, up 4 bp from last week and 11 bp higher than 30 days ago. The jumbo 30-year fixed rate stands at 5.97%, also up 4 bp from last week and 11 bp over the past month.

Del One shows a 30-year conventional fixed rate today at 5.625%. Northrop Grumman offers adjustable-rate mortgages with 3-year today at 5.5%, 5-year at 5.625%, and 7-year at 6.125%. These rates have held steady over the past week and month. Navy Federal Credit Union offers a 15-year Conventional Fixed loan today at 5.625% and a 30-year Conventional Fixed at 6.25%. The 15-year Conventional Refinance rate is also 5.625%, while the 30-year Conventional Refinance is 6.25%, up 38 bp from 30 days ago. The 30-year VA Fixed rate is 5.875%, up 13 bp from a week ago. The 3-year ARM Conventional rate is 5.375%, and the 5-year ARM Conventional is 5.625%, both unchanged from 30 days ago.

Empower offers a 15-year fixed rate at 5.75%, down 13 bp from last week, and a 30-year fixed at 6.375%, also down 13 bp over the same period. The 10-year fixed rate is 5.75%, down 13 bp from a week ago. These rates have held steady compared to earlier in the month.