# VA Mortgage Rates Today: November 2026 Averages
> VA mortgage rates today: the latest dated national averages for VA, FHA and conventional loans, why VA usually prices lower, and what forecasters expect next.
Source: https://veteranhomematch.com/learn/va-mortgage-rates
*Author:* VeteranHomeMatch Editorial Team
*Reviewed by:* VeteranHomeMatch Editorial Review
*Published:* 2026-11-06
*Updated:* 2026-11-06
---
The average VA mortgage rate was **6.758% on a 30-year fixed loan on November 4, 2026**, according to the [Optimal Blue VA index published on FRED](https://fred.stlouisfed.org/series/OBMMIVA30YF), which averages actual VA rate locks. That was about 0.36 percentage points below the conventional average the same day. VA mortgage rates have averaged below conventional rates every day for the past year, but an average is not your rate: lenders price each loan on its own, and this figure will be out of date by the time you read it.
VeteranHomeMatch is not a lender and doesn't set or offer rates. The numbers below are third-party averages, each with the date it applies to.
- **6.758% was the VA 30-year fixed average on November 4, 2026** (Optimal Blue, via FRED). FHA averaged 6.897% and conforming conventional loans 7.115% that day.
- **A year earlier the VA average was 5.747%** (November 6, 2025). Rates climbed through most of 2026, and the VA index peaked at 7.13% on October 7, 2026.
- **VA loans tend to price lower** because VA guarantees up to 25% of loans over $144,000, which lowers the lender's risk.
- **Forecasts published in October 2026 don't expect relief soon:** Fannie Mae projected 7.4% for the fourth quarter of 2026, and the Mortgage Bankers Association projected 7.3%.
- **Compare Loan Estimates from several lenders on the same day with the same lock period.** The rate alone hides points and fees; the APR and Section A of the Loan Estimate show them.
## VA mortgage rates today vs FHA and conventional
On November 4, 2026, the average locked rate on a 30-year fixed VA loan was 6.758%, below both FHA (6.897%) and conforming conventional loans (7.115%). All three figures come from the Optimal Blue Mortgage Market Indices, which FRED republishes daily. Each index is the average of the rate locks made through Optimal Blue's pricing engine that day, so it reflects rates borrowers actually locked, not advertised teaser rates.
| Measure (30-year fixed) | Latest value | Date | Year earlier |
| --- | --- | --- | --- |
| [VA average locked rate](https://fred.stlouisfed.org/series/OBMMIVA30YF) (Optimal Blue) | 6.758% | Nov 4, 2026 | 5.747% (Nov 6, 2025) |
| [FHA average locked rate](https://fred.stlouisfed.org/series/OBMMIFHA30YF) (Optimal Blue) | 6.897% | Nov 4, 2026 | 6.068% (Nov 6, 2025) |
| [Conforming conventional average](https://fred.stlouisfed.org/series/OBMMIC30YF) (Optimal Blue) | 7.115% | Nov 4, 2026 | 6.200% (Nov 6, 2025) |
| [Freddie Mac weekly average](https://fred.stlouisfed.org/series/MORTGAGE30US) (applications lenders submit to Freddie Mac) | 7.18% | Week of Nov 5, 2026 | 6.22% (Nov 6, 2025) |
The Freddie Mac survey is the "average mortgage rate" most news stories quote. Since November 2022 it has been built from applications lenders submit to Freddie Mac, [per the FRED series notes](https://fred.stlouisfed.org/series/MORTGAGE30US). Freddie Mac buys conventional loans, so the survey does not measure VA pricing. For a 15-year fixed loan, the same survey's average was 6.57% for the week of November 5, 2026.
An index tells you where the market is. It doesn't tell you what a lender will quote you. Two veterans locking on the same day can get rates well apart because of credit score, discount points, loan size and lock length. VeteranHomeMatch does not quote rates; only a lender can, on a Loan Estimate.
### How much the gap is worth in dollars
At the November 4, 2026 averages, a $400,000 30-year loan would carry principal and interest of about $2,597 a month at 6.76% and about $2,694 at 7.12%. That's roughly $96 a month, or about $34,700 over 30 years if the loan is never refinanced or paid off early. The example leaves out taxes, insurance and the VA funding fee (2.15% on a first-use purchase with less than 5% down, or $8,600 on $400,000, and waived if you receive VA disability compensation, per [VA's funding fee page](https://www.va.gov/housing-assistance/home-loans/funding-fee-and-closing-costs/)). For the full side-by-side on cost, see [VA vs conventional loans](/learn/va-vs-conventional).
## Why VA loans usually have lower rates
VA loan rates usually come in below conventional rates because the government absorbs part of the lender's risk. For loans over $144,000, [VA says](https://www.va.gov/housing-assistance/home-loans/loan-limits/) it will pay the lender up to 25% of the loan amount if the borrower defaults. That backstop cuts what the lender stands to lose on a default.
Where the loan goes after closing matters too. VA-guaranteed loans are typically pooled into mortgage-backed securities guaranteed by Ginnie Mae, whose [program covers FHA, VA, USDA Rural Development and PIH loans](https://www.ginniemae.gov/newsroom/mediaresources/Documents/about_ginniemae.pdf), rather than going through Fannie Mae or Freddie Mac.
That also keeps VA loans outside the Fannie Mae and Freddie Mac pricing grids. Conventional loans sold to those two companies carry upfront fees set in matrices by [credit score and loan-to-value](https://www.fhfa.gov/news/news-release/fhfa-announces-updates-to-the-enterprises-single-family-pricing-framework). VA lenders generally still price lower scores higher, but they do it through their own rate sheets, so the cost of a weaker score can look quite different from what it would on a conventional loan.
VA's [purchase loan page](https://www.va.gov/housing-assistance/home-loans/loan-types/purchase-loan/) describes "competitive interest rates" but doesn't promise a specific spread, and the gap moves. By our count of the FRED data, the VA index was below the conventional index on all 247 days with both figures published between November 6, 2025 and November 4, 2026, by between 0.25 and 0.48 percentage points.
## What moves your VA loan rate
Your VA rate is set by your lender, not by VA. Under [38 CFR 36.4312](https://www.law.cornell.edu/cfr/text/38/36.4312), VA may either cap rates or let them be "agreed upon by the veteran and the lender." VA's [funding fee and closing costs page](https://www.va.gov/housing-assistance/home-loans/funding-fee-and-closing-costs/) says your lender determines the interest rate and that it may vary from lender to lender, so the national average is only a starting point. The table shows what moves it up or down.
| Factor | How it moves your rate |
| --- | --- |
| Credit score | Higher scores generally get lower rates, [per the CFPB](https://www.consumerfinance.gov/owning-a-home/explore-rates/). VA sets no score-based fee grid; each lender sets its own. See [VA loan credit score rules](/learn/va-loan-credit-score). |
| Discount points | Paying points at closing lowers the rate. One point equals 1% of the loan amount ($4,000 on $400,000). How much rate a point buys depends on the lender and the market. |
| Lender credits | The reverse of points: you take a higher rate and the lender pays part of your closing costs. |
| Lock period | Locks typically run 30, 45 or 60 days, and extending one if closing slips may be expensive, [per the CFPB](https://www.consumerfinance.gov/ask-cfpb/whats-a-lock-in-or-a-rate-lock-en-143/). See [VA loan rate locks](/learn/va-loan-rate-lock). |
| Down payment | VA allows $0 down, but a larger down payment typically lowers the rate, [per the CFPB](https://www.consumerfinance.gov/owning-a-home/explore-rates/). |
| Loan term | Shorter terms usually price lower: Freddie Mac's 15-year average was 6.57% vs 7.18% for the 30-year in the week of November 5, 2026. |
| Origination fee | Not part of the rate, but it changes the cost. VA caps the lender's flat origination charge at 1% of the loan. |
### VA's rules on points and the 1% fee
VA lets you pay "reasonable discount points," but on a purchase loan you can't roll them into the loan amount. Under [38 U.S.C. 3703(c)(4)(B)](https://www.law.cornell.edu/uscode/text/38/3703), discount points may not be financed except on a few loan types, including the interest rate reduction refinance (IRRRL). On a purchase you pay points in cash at closing, or you negotiate for the seller to pay them, which [VA's closing cost page](https://www.va.gov/housing-assistance/home-loans/funding-fee-and-closing-costs/) allows. Our [VA seller concessions guide](/learn/va-loan-seller-concessions) explains why normal discount points don't count toward VA's 4% concession cap.
The lender's flat origination charge is capped at 1% of the loan amount by [38 CFR 36.4313(d)(2)](https://www.law.cornell.edu/cfr/text/38/36.4313), and that 1% stands in for the lender's other origination charges. A quote with a low rate plus a 1% origination fee plus two points can cost more than a slightly higher rate with no points. Our guide to the [VA loan origination fee](/learn/va-loan-origination-fee) breaks down what can and can't be charged on top.
A temporary buydown is a different tool. A 2-1 buydown lowers your payment for the first two years, and then the full note rate applies. It is often paid for by the seller or builder. If a seller is offering concessions, read [how a VA temporary buydown works](/learn/va-loan-temporary-buydown) before deciding between a buydown and permanent points.
## Interest rate vs APR on a VA loan
The interest rate is what you pay each year to borrow, without fees. The APR adds the interest rate, points, broker fees and other charges you pay to get the loan, [as the CFPB puts it](https://www.consumerfinance.gov/ask-cfpb/what-is-the-difference-between-a-mortgage-interest-rate-and-an-apr-en-135/). Two quotes with the same rate can have different APRs, and the one with the higher APR is charging more in upfront costs.
On a VA loan, watch two items when you read an APR:
- **The VA funding fee counts in the APR.** It's a premium for a government guaranty, which [Regulation Z](https://www.law.cornell.edu/cfr/text/12/1026.4) treats as a finance charge, so it raises the APR even though it's the same 2.15% (first use, under 5% down) at every lender. Comparing APRs across VA lenders still works, as long as every quote assumes the same funding fee.
- **APR assumes you keep the loan to term.** If you expect to sell or refinance within a few years, points you pay to cut the rate may not earn themselves back in time, and an APR comparison will make the quote with points look better than it is for you.
## How to compare VA loan rates from several lenders
Get at least three Loan Estimates, requested on the same day, for the same loan amount, the same lock period and the same points. Lenders must send a Loan Estimate within three business days of your application, and every lender uses the same standard three-page form, [per the CFPB](https://www.consumerfinance.gov/ask-cfpb/what-is-a-loan-estimate-en-1995/), so the numbers line up line by line.
1. **Apply within a short window.** Multiple mortgage credit checks within 45 days count as a single inquiry on your credit report, [according to the CFPB](https://www.consumerfinance.gov/ask-cfpb/will-shopping-for-a-mortgage-hurt-my-credit-en-2005/).
2. **Hold the variables still.** Ask each lender to quote the same lock length (for example, 30 days) and either zero points or the same number of points. Rates can change daily and sometimes hourly, [per the CFPB](https://www.consumerfinance.gov/ask-cfpb/whats-a-lock-in-or-a-rate-lock-en-143/), so quotes from different days aren't comparable.
3. **Read page 1 for the rate and page 2, Section A, for origination charges.** Points show up in Section A. A low rate with a large Section A is not a low-cost loan.
4. **Check the funding fee line.** It should match across lenders for the same borrower. If you receive VA disability compensation, it should be $0.
5. **Lock once you choose.** A lock holds the rate until closing if you close inside the lock window and nothing in your application changes.
## When will mortgage rates drop? What the October 2026 forecasts say
The major housing forecasts published in October 2026 expect mortgage rates to stay above 7% through 2027, not to drop. These are forecasts, and forecasts of interest rates are often wrong in both directions.
| Forecaster | Published | 30-year rate, Q4 2026 | 2027 |
| --- | --- | --- | --- |
| [Fannie Mae economists](https://newslink.mba.org/mba-newslinks/2026/october/mba-newslink-thursday-oct-15-2026/fannie-mae-sharply-raises-mortgage-rate-forecast-for-2027/) | Reported October 14, 2026 | 7.4% | 7.5% through all of 2027 |
| [Mortgage Bankers Association](https://newslink.mba.org/mba-newslinks/2026/october/mba-newslink-tuesday-oct-13-2026/mba-forecast-mortgage-originations-to-decrease-5-in-2027-as-mortgage-rates-remain-above-7-2/) | October 2026 annual convention (NewsLink, Oct 13, 2026) | 7.3% | Above 7% through 2027 |
Both forecast the national 30-year fixed average, not VA rates specifically. The VA index ran below the conventional index every day of the past year, but nothing guarantees it will keep doing so. The MBA also forecast a 10-year Treasury yield averaging 5.1% in the fourth quarter of 2026 and staying close to 5% through 2027.
### What the Federal Reserve does and doesn't control
The Federal Reserve sets a short-term rate, the federal funds target, not mortgage rates. On [September 16, 2026](https://www.federalreserve.gov/newsevents/pressreleases/monetary20260916a.htm), the Fed raised that target by a quarter point to 3.75% to 4%, and on [October 28, 2026](https://www.federalreserve.gov/newsevents/pressreleases/monetary20261028a.htm) it held it there. The next scheduled Fed meeting is December 8–9, 2026.
Thirty-year mortgage rates follow longer-term bond yields and inflation expectations more closely than the Fed's overnight rate. That's why mortgage rates keep moving between Fed meetings: the Fed's target didn't change after September 16, 2026, yet the VA index went from 7.13% on October 7 to 6.758% on November 4. In [MBA's commentary after the October meeting](https://newslink.mba.org/mba-newslinks/2026/october/advocacy-update/), MBA chief economist Mike Fratantoni said, "We do not expect any significant relief in mortgage rates over the forecast horizon." Commenting on third-quarter GDP in the same update, he said MBA was holding to its forecast of two more hikes over the next six months.
### Should you wait for rates to fall?
Waiting is a bet on a forecast. If you buy now and rates fall later, a VA streamline refinance is a relatively low-cost way to capture the drop. If you wait and rates rise, the higher rate is yours for as long as you keep the loan. The decision usually turns on whether you've found the right home and can afford the payment at today's rate, not on predicting the bond market.
## If rates fall after you buy: the VA IRRRL
The VA Interest Rate Reduction Refinance Loan (IRRRL) is the standard way to lower the rate on an existing VA loan. Its funding fee is 0.5%, and unlike a purchase loan, an IRRRL can include discount points in the new loan amount, within limits: if the lower rate comes only from points, financed points must leave the loan at or below 100% of the home's value for one point or less, or 90% for more than one point, under [38 U.S.C. 3709(b)(4)](https://www.law.cornell.edu/uscode/text/38/3709).
Federal law, [38 U.S.C. 3709](https://www.law.cornell.edu/uscode/text/38/3709), sets three tests for refinancing a VA loan:
- **Seasoning:** the later of six consecutive monthly payments on the current loan, or 210 days after its first payment due date.
- **Rate reduction:** for a fixed-to-fixed refinance, the new rate must be at least 0.50 percentage points (50 basis points) lower. Moving from a fixed rate to an adjustable one requires at least 2 points (200 basis points) lower.
- **Recoupment:** the lender must certify that the refinance's fees and closing costs (not counting taxes, escrow and the VA funding fee) are scheduled to be recouped within 36 months.
Section 3709(d) carves out refinances whose new principal is larger than the old loan's payoff and hands those cases to VA's own rules. Because an IRRRL often rolls costs into the new balance, plan on meeting all three tests anyway and have your lender confirm how they apply to your loan.
On the same $400,000 example, a rate half a point lower (6.26% instead of 6.76%) would cut principal and interest by about $132 a month. Our guides on the [VA IRRRL streamline refinance](/learn/va-irrrl-streamline-refinance) and [when to refinance a VA loan](/learn/when-to-refinance-va-loan) run the break-even math in detail.
## Bottom line on VA mortgage rates
VA mortgage rates averaged 6.758% for a 30-year fixed loan on November 4, 2026, below FHA and conventional averages that day, and forecasts published in October 2026 expect rates to stay above 7% on the conventional measure through 2027. The average is a reference point, not a price. Your rate comes from a lender and depends on your credit, points, lock and loan size, so the most useful thing you can do is collect several Loan Estimates on the same day and compare them line by line. When you're ready, start with the [2-minute eligibility check](/start/loan-purpose).
## Frequently asked
### What are VA mortgage rates today?
The Optimal Blue VA 30-year fixed index, which averages actual VA rate locks, was 6.758% on November 4, 2026, the latest day published on FRED as of November 6, 2026. That is an average across many borrowers, not an offer. Your own rate depends on your credit, points, lock period and lender, and the average changes every business day.
### What is the average mortgage rate today?
Freddie Mac's weekly survey put the average 30-year fixed rate at 7.18% for the week of November 5, 2026, and the 15-year fixed at 6.57%. That survey is built from applications lenders send to Freddie Mac, so it tracks conventional loans. VA loans have averaged lower: the Optimal Blue VA 30-year index was 6.758% on November 4, 2026.
### Are VA loan rates lower than conventional rates?
Usually, yes. On November 4, 2026, the Optimal Blue VA 30-year fixed average was 6.758%, compared with 7.115% for conforming conventional loans and 6.897% for FHA. VA guarantees up to 25% of loans over $144,000, which lowers the lender's loss if a borrower defaults.
### When will mortgage rates drop?
The major forecasts published in October 2026 do not expect a drop soon. Fannie Mae's October 2026 outlook, reported October 14, 2026, projected a 7.4% average 30-year rate for the fourth quarter of 2026 and 7.5% through 2027, and the Mortgage Bankers Association projected 7.3% for the fourth quarter of 2026 and above 7% through 2027. Forecasts are often wrong, so they are not a reason to wait or to rush.
### Are mortgage rates expected to drop?
Not in the forecasts published in October 2026. The Federal Reserve raised its target range to 3.75% to 4% on September 16, 2026 and held it there on October 28, 2026. After that meeting, the Mortgage Bankers Association said it still expected two more Fed rate hikes over the following six months. If rates do fall after you buy, a VA streamline refinance (IRRRL) is the usual way to capture the lower rate.
### Does VA set the interest rate on a VA loan?
No. Under 38 CFR 36.4312, VA may either let the veteran and lender agree on the rate or set a maximum, and VA's own funding fee and closing costs page says your lender will determine your interest rate and that it may vary from lender to lender. VA sets rules around the loan, such as the 1% cap on the lender's flat origination charge and the funding fee, but each lender prices its own rate.