VA Rates were at their best on Monday at 6.12% and only got worse from there. This was not a good week to lock in your VA loan. The markets continues to fluctuate and the bond market acted accordingly. We topped out the week and 6.50% but recovered slightly on Friday afternoon. We ended the week at 6.25%, about ¼ above our recommended lock. We continue to recommend a lock at 6.00%, this is a great rate to be holding for the next several years.

There continues to be uncertainty as to what the economy is going to do. In the short term I suspect it will get slightly worse, so we will continue to see fluctuations in the bond market.  If you’re looking to buy in the next couple months, I strongly suggest you get pre-qualified so you’re ready to lock at a moment notice. I think we will see 6.00% again next week.

Tags: Best va rates, rate lock, Rate Shopping, rates

This entry was posted on Saturday, November 1st, 2008 at 12:14 pm and is filed under Main. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.