VA LOAN CAPTAIN BLOG & Learning Center

What Will VA Rates Do?

By: Grant Moon 12/18/13 11:30 am

What Will VA Rates Do?

That’s really the question every VA eligible borrower asks, isn’t it? Whether you’re in the process of buying a home and using your VA home loan benefit or considering a refinance to lower your monthly payment or reduce your loan term, it’s a good idea to find out what interest rates are going to do, right?  So what should you do, call your loan officer and ask, “What will mortgage rates be like say next week?”

The fact is that your loan officer doesn’t know and if you do get a rate prediction from a loan officer it’s probably not wise for the loan officer to do so. It’s your monthly payment, not the loan officer’s. Experienced loan officers really shouldn’t be giving you interest rate predictions primarily because the loan officer simply doesn’t know and can only provide a guess. You might get a general prediction but most loan officers stay away from looking into a crystal ball and giving interest rate advice.

Various factors come into play when VA mortgage rates change. It can be a dash of positive economic news providing investors to move their money out of bonds and into stocks. When the price of a bond goes down due to decreasing demand, interest rates go up. A strong unemployment number or a GDP revision can move rates.

Even political events or the price of oil can be a market mover, there’s just no way to know what will happen. What you must do instead is trust your own judgment and be comfortable with the mortgage rate that’s available when you’re ready to lock.


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