If you are an eligible veteran looking for a home mortgage, you may want to know what VA loan interest rates are. Most approved VA loan officers will tell you that there is really no way to know as interest rates change daily, even numerous times in a day. While it is true that rates change frequently, there are three basic ways you can follow VA mortgage loan interest rates on a daily, weekly, or monthly basis.
Ways to follow VA loan interest rates
The Internet. There are lots of free websites that can help veterans keep track of current mortgage rates. By going to any search engine and typing in "mortgage rate chart" or "what are current mortgage rates" you should be able to find plenty of results that can help you.
The Media. Business and economic television programs are a great source of information about mortgage rates and other economic trends. Generally, if the overall economy is doing well, then interest rates will be higher. During times of economic distress, rates on VA mortgage loans will generally be lower. During the recent collapse in the housing market, interest rates have dropped to record lows. When the markets begin to recover, the rates will undoubtedly start to increase again.
LowVARates.com. Contacting LowVARates is a convenient way to keep track of interest rates. LowVARates is not a lender so they do not post interest rates directly on their website, but they can put you in contact with a VA approved lender. Lenders can tell you exactly where interest rates are on any given day, and can give you advice on where rates may be heading and how to lock in a low VA loan interest rate.
By learning to follow interest rates on a regular basis, you can educate yourself in how to secure the most beneficial interest rate and loan type for you.