{"id":16033,"date":"2018-05-29T15:47:29","date_gmt":"2018-05-29T15:47:29","guid":{"rendered":"https:\/\/staging.sightlinemg.com\/navytimes\/uncategorized\/2018\/05\/29\/mortgage-rates-reach-7-year-high-with-va-loans-along-for-the-ride\/"},"modified":"2026-08-08T01:51:47","modified_gmt":"2026-08-08T01:51:47","slug":"mortgage-rates-reach-7-year-high-with-va-loans-along-for-the-ride","status":"publish","type":"post","link":"https:\/\/staging.sightlinemg.com\/navytimes\/home-hq\/2018\/05\/29\/mortgage-rates-reach-7-year-high-with-va-loans-along-for-the-ride\/","title":{"rendered":"Mortgage rates reach 7-year high, with VA loans along for the ride"},"content":{"rendered":"\n

While the average interest rate on VA-backed loans<\/a> remains lower than that of conventional mortgages, veterans aren\u2019t immune to market forces \u2015 especially when those forces are on the move.<\/p>\n\n\n\n

Interest rates<\/a> for all home loans are at a seven-year high, according to data released Thursday by Freddie Mac<\/a>, with the average 30-year fixed-rate mortgage at 4.61 percent. That figure hasn\u2019t been reached since May 19, 2011, and it\u2019s more than half a percentage point higher than the average from this time last year (4.02 percent).<\/p>\n\n\n\n

Freddie Mac doesn\u2019t break its figures down by loan type, but mortgage data company Ellie Mae<\/a> does, and its latest report tells a similar story. The average 30-year rate for all loans that closed in April sat at 4.79 percent, per Ellie Mae data, with VA loans at 4.63 percent, up nearly a full percentage point since December 2016 (3.76 percent).<\/p>\n\n\n\t