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:

Triangle offers a 30-year conventional fixed mortgage at 6.5%. They also have 3-year and 5-year ARMs at 5.75% and 5.25%, respectively. These rates have held steady over the past week and month. Allsouth offers a 15-year fixed conventional loan today at 5.625% and a 30-year fixed conventional loan at 6.625%. The 15-year fixed adjustable program is at 5.5%, and the 10-year adjustable is at 5.75%. Rates have held steady over the past month.

Allegacy offers a 15-year conventional fixed rate at 6.25%, up 13 bp from a week ago but down 13 bp from a month ago. The 30-year conventional fixed rate is steady at 6.75%. For adjustable rates, the 5-year ARM is 6.125%, up 13 bp over the past week but down 25 bp from a month ago. The 7-year ARM is 6.375%, also up 13 bp from last week and down 25 bp month-over-month. The 10-year ARM holds at 6.0%. Visions offers a 15-year fixed rate at 5.75%, up 25 bp from a month ago. Their 30-year fixed rate is steady at 6.875%. The 15-year fixed rate has held steady over the past week.

Mountain America offers a 15-year conventional fixed rate today at 5.625%, unchanged from last week but down 13 bp from a month ago. Their 30-year conventional fixed rate holds steady at 6.375%. The 15-year conventional refinance rate is 5.625%, up 13 bp from last week but down 13 bp over 30 days. The 30-year conventional refinance rate is 6.49%, up 12 bp from last week. FHA 30-year fixed remains at 5.875%, and VA 30-year fixed is 5.99%, down 1 bp over the past month. Jumbo 30-year fixed is 6.375%, down 25 bp from a month ago.

State Employees Cu Of Maryland, Inc shows a 15-year conventional fixed rate today at 6.0%, up 13 bp from last week. The 30-year conventional fixed rate is 6.5%, also up 13 bp over seven days. FHA 30-year fixed is 6.25%, rising 25 bp in the past week. Adjustable rates hold steady with 5.25% for 5-year and 5.5% for 7-year terms, and 5.625% for 10-year, all unchanged. Listerhill offers a 3-year ARM at 5.74% today, up 50 bp from 30 days ago. Their 5-year ARM is priced at 6.00%, also up 50 bp over the past month.

Cfcu Community offers a 30-year Conventional Fixed mortgage at 5.75% today. The rate has stayed steady over the past week and month. Gardensavings-Federal-Credit-Union offers a 15-year conventional fixed rate today at 5.875%, down 38 bp from last week. The 30-year conventional fixed rate is 6.25%, also down 50 bp from last week. These rates have improved since early June, making it a good time to consider these loan options. Skyla offers a 15-year conventional fixed rate at 5.75% and a 30-year conventional fixed rate at 6.35%, with the 30-year rate up 15 bp from 30 days ago. Their 7-year ARM is at 5.75%, also up 15 bp from 30 days ago.