VA Mortgage Rate Update

admin | December 30, 2009 | 0 Comments

The volume of VA loan requests last week dropped 18% from the prior week. Results from last week’s VA loan applications: 38% were for VA home refinance loans, 55% were for VA home loans. There were no home equity loan applications because VA is not offering any 2nd mortgage programs at this time.

Zillow reported the VA mortgage rates for 30-year fixed home purchase loans at 5.06%. The 30-year fixed rate home mortgages reported variations by state. Georgia mortgage rates, Virginia mortgage rates, and North Carolina mortgage rates increased the most, from 4.81% to 5.01% in Georgia, from 4.84% to 5.03% in North Carolina, from 4.82% to 5.01% in Virginia. New York mortgage rates (5.12%) were the highest in the country, while VA California mortgage rates (4.88%) were the lowest. For VA, California rates were the most requested among all states.

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