VA HOME LOAN MORTGAGE RATES OCTOBER 8 – RATES DROP

VA home loan mortgage rates for October 8th have been quite volatile but are now seeing a drop. This morning the conventional mortgage rates were up but now we are seeing the 30 year fixed mortgage rate at 4.82% while the 15 year fixed mortgage rate is at 4.26%. It was expected that we were going to see volatility as the month of October is going to get quite interesting for mortgage rates as a whole. VA home loan rates are generally .5% to 1% lower than conventional mortgage rates so you can do the math and see that the 30 year fixed VA home loan could be well below 4%.

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The 10 year treasury rate yield is getting awfully close to the support level of the 200 day moving average and we have predicted that this would hold and keep mortgage interest rates just slightly above their all time lows. If the 200 dma does hold as support we are likely to see a short term rally which could push mortgage rates back above the 5% level which is still very low when looking at mortgage rates historically.

If you have been thinking about refinancing or buying your first home now is as good of a time as ever. With mortgage rates near all time lows and mortgage lenders willing to help you lock in at low rates there is no reason to miss out on this opportunity. If you wait a few weeks there is a good chance that you could see mortgage rates heading higher so don’t pass up your chance to get a low rate.

Make sure to check out Subprime Blogger on a daily basis for your VA home loan rates. We will display the current VA home loan rates as well as a short commentary similar to the above column. Bookmark the following VA Loan category to gain easier access to our daily VA loan rates column.