what is the current va loan rate

As of October 7, 2023, the current VA loan rates vary depending on the lender and the type of loan. According to Bankrates latest survey of the nations largest mortgage lenders, the national average 30-year VA loan APR is 7.12%, and the average 30-year VA refinance APR is 7.19% . However, other lenders offer different rates. For example, Veterans United offers a 30-year fixed VA purchase loan with an interest rate of 6.375% and an APR of 6.838%, and a 20-year fixed VA purchase loan with an interest rate of 6.375% and an APR of 6.985% . Navy Federal Credit Union offers a 15-year VA loan with an interest rate as low as 6.250% and an APR as low as 7.003%, and a 30-year VA loan with an interest rate as low as 6.625% and an APR as low as 7.098% . Forbes Advisor reports that the current rate on a 30-year fixed VA loan is 6.62% . Its important to note that VA loan rates change daily based on market conditions, and VA loan rates vary by lender, so shopping around for different VA loan offers is important.