Mortgage rates in general have been holding steady with minor up-and-down shifts for the past week or so, and Thursday’s performance was no exception. Rates held their own for the most part while some lenders did make small upward adjustments. But some lenders are also currently (at the time of this writing) making adjustments lower--some offer rates better than the reported best-execution rates listed here.

Steady rates like these can be viewed as the predecessor to a more bold move upward or downward--don’t assume that the fact that rates have been “sideways” or “flat” for the most part over a seven or eight day period means they won’t change much at all for the near term. There are two important events coming that could push rates higher or lower: the Employment Situation Report and a Fed Policy Announcement.

We’ve mentioned those two things in previous reports. While markets can and do ignore such developments from time to time, it’s not safe to assume they will do so in the future. Past performance does not guarantee future results, and the contents of either may well push rates in either direction.

VA mortgage loan best execution rates haven’t been revised as of late, but that revision could be coming if there is downward movement as a result of either of those two developments. In the past VA mortgage loan rates tended to find a “comfort zone” and stay there for many weeks. The current best execution rate has kept with that trend--will a revised best execution rate in the wake of the Fed announcement or Situation Report do the same?

Here are the mortgage loan rates for Thursday April 25 2013. The rates listed here are best execution rates and may not be available to all borrowers or from all lenders. Your experience may vary depending on your credit qualifications and the availability of a participating lender.

30 year fixed rate conventional mortgages: 3.5%
VA and FHA mortgages: 3.25%
15-year fixed rate mortgages: Between 2.75% and 2.875%
5 year ARMs: Between 2.625% and 3.25%

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