This is a short video on current mortgage rates
Private lenders, such as mortgage companies and banks, set interest rates on VA loans. The Department of Veterans Affairs (VA) does not set the rate but backs a portion of each loan against default.
A national review on average reveals VA loan rates are typically lower than both FHA and conventional mortgage rates. VA loan rates are generally lower due to the VA backing a portion of each loan.
On Thursday, June 03, 2021, according to Bankrate’s latest survey of the nation’s largest mortgage lenders, the average 30-year VA loan rate is 2.760% with an APR of 2.920%. The average 30-year VA refinance rate is 2.780% with an APR of 2.980%.
The variation of rates will vary base on your credit score, and the mortgage company writing the loan.