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Veterans contest with rising mortgage rates

Posted on AllSides November 6th, 2023
From The Center

With mortgage rates near their highest level in more than 20 years, even veterans who often get more favorable loan terms are feeling the pinch.

VA home loans, provided by private lenders but backed by the U.S. Department of Veterans Affairs, tend to have lower rates than conventional mortgages but in today’s environment, those rates are also higher than they’ve been in years.

Now, a 30-year fixed rate VA home loan is around 7%, more than double the average rate just two years ago, according to Optimal Blue.

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