Happy Friday the 13th. This week has had it's ups and downs. By Tuesday, interest rates for VA mortgages had just about made a full recovery from Thursdays steep leap. Then interest rates moved back up again. By the end of the day, rates for 30 year VA loans rested about 1/8 percent lower than they ended last week. All this volatility is making it an unsure future, but the market is relatively calm considering the fact that we are waiting for the Federal Reserve to give their announcement middle of next week. They'll let us know when they'll start reducing asset purchases. Many people anticipate that announcement will drive interest rates for mortgages in a big way. Others believe that the market has already adjusted itself for that announcement because it's simple a question of when not if.
Either way, we still see it as an excellent time for military families and Veterans to get a VA loan. Historically speaking, rates are far lower now than they were 10 years ago.