VA Mortgage Rates For Tuesday January 15, 2013

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Written by J. Wallace Jr.   
Tuesday, 15 January 2013 11:15
VA Mortgage Rates For Tuesday January 15, 2013 2.9 out of 5 based on 10 votes.

VA Loan Rates ImageIn general, many financial professionals have noted that mortgage loan rates are up by a modest amount from their “all-time” lows. That said, mortgage loan rates are still very low and Tuesday’s market performance was another straight day of improvement. That improvement may be small from day to day, but after six consecutive days of gains and at least one day of “unchanged” status, it seems that now is a great time to consider getting into a VA mortgage loan or refinance.

Tuesday’s performance meant many rates stayed the same but the associated costs for those loans or refinances were lower for qualified borrowers. Just because a 30-year conventional rate hovers at 3.375% doesn’t mean you can’t save money on the deal.

Could rates go lower? Some analysts and industry professionals admit it’s possible, but caution that gambling on that idea is very risky. The Fed QE issue is still up in the air--any announcement on that front could affect mortgage loan rates. Other things that pressure the markets that directly affect your interest rates on a mortgage or refinance? Overseas headlines and market activity. Go to bed with nothing but calm news reports, and you could wake up to opening bell news of American markets pressured by overseas happenings while you slept. That’s why it’s not safe to assume today’s rates will be the same tomorrow--lower OR higher.

Here are the mortgage loan rates as reported on Tuesday January 15 2013. These rates assume ideal conditions--your own experience may vary depending on your credit score and other financial qualifications, plus lender participation. If you aren’t sure about the rates offered by your current lender, be sure to compare those rates with others. You may find a refinance loan a much better option elsewhere--and VA refinance loans don’t require you to stay with the original financial institution. Shopping around for the best rate is always a good idea.

30-year fixed rate conventional mortgages: 3.375%
VA mortgage loan rates: 3.25% (VA mortgage rates tend to vary more between lenders than conventional rates.)
FHA mortgage loan rates: 3.25% (FHA rates vary more between lenders than conventional equivalents.)
15-year fixed rate mortgage rates: Between 2.875% and 2.75% depending on the lender
5-year adjustable rate mortgages: Between 2.625% and 3.25% depending on the lender