You’ve probably seen the headlines. Rates are up, then they’re down, then some "expert" on the news says they’re about to plummet because of a Fed meeting. If you’re a veteran or active-duty service member trying to figure out what is the va interest rate today, the noise is deafening.
Honestly, the "average" rate you see on a giant finance site doesn't mean much for your specific wallet.
As of Saturday, January 17, 2026, the national average for a 30-year fixed-rate VA mortgage is hovering around 5.68% to 6.30% APR, depending on which index you trust. That’s a decent chunk lower than conventional 30-year loans, which are currently sitting closer to 6.11% or even 6.6%.
But here’s the thing: nobody actually "gets" the average. You get your rate.
The Ground Truth on Rates Right Now
Earlier this week, things got weird. On January 9, the White House directed Fannie Mae and Freddie Mac to purchase $200 billion in mortgage-backed securities. Whenever the government starts buying bonds like that, it creates artificial demand. High demand for mortgage bonds usually pushes yields down, which in turn pulls mortgage rates down.
We saw a quick dip. Some lenders started quoting in the low 5s for the first time in a while.
But it’s a tug-of-war. The Federal Reserve has been cutting its benchmark rate—down 175 basis points since late 2024—bringing the fed funds rate to the 3.50% to 3.75% range. You’d think that would send VA rates into the floor, right? Not exactly. Mortgage rates follow the 10-year Treasury yield more than they follow the Fed. If investors are worried about inflation sticking around or the government’s debt levels, they demand higher yields on those 10-year notes.
That is why you’ll see one lender offering 5.47% while another is at 6.26% on the exact same morning.
Why the VA Rate Isn't One Number
The Department of Veterans Affairs doesn't set interest rates. They just guarantee the loan so the bank feels safe. Private lenders like Navy Federal, Rocket, or your local credit union set the actual price.
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- Credit Score Overlays: Even though the VA doesn't have a minimum credit score requirement, most lenders do. If you have a 740+ score, you might see that 5.25% "as-low-as" rate. If you're at a 620, expect to pay 0.25% to 0.50% more.
- The Funding Fee Factor: Most people forget that the interest rate is only half the story. Unless you have a service-connected disability (10% or higher), you're paying a funding fee. For first-time users with 0% down, that’s 2.15% of the loan amount. You can roll it into the loan, but it effectively raises your real cost of borrowing.
- Loan Type Matters: If you’re doing a VA IRRRL (Interest Rate Reduction Refinance Loan), the rates are usually lower than a purchase loan. Some IRRRLs are being quoted around 5.87% right now.
Comparing the "Big Three" Lenders Today
If you went shopping this morning, here is what the landscape looks like for a 30-year fixed VA loan:
- NerdWallet/National Averages: 5.68% APR.
- Navy Federal: 5.25% (with 0.50 discount points).
- Bankrate Survey: 6.30% APR.
See that gap? It’s massive. A 1% difference on a $400,000 house is roughly **$250 a month**. Over 30 years, that’s almost $90,000.
The 2026 Forecast: Is It Better to Wait?
Ted Rossman over at Bankrate thinks we might see averages fall to 5.5% later this year if a recession scare hits. On the flip side, Jerome Powell’s term as Fed Chair ends in May 2026. Transition periods at the Fed usually make the bond market twitchy. Twitchy markets mean volatile rates.
If you find a house you love today and the rate is 5.8%, waiting for 5.4% might cost you the house. You can always refinance later using the IRRRL program, which is basically the "Easy Button" for VA borrowers. It requires no appraisal and very little paperwork.
What Most People Get Wrong
People think VA loans are always the cheapest.
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Usually, they are. But if you have 20% to put down and a 800 credit score, a conventional loan might actually be cheaper once you factor in the VA funding fee.
Also, "No Down Payment" doesn't mean "No Closing Costs." You still have to pay for title insurance, recording fees, and escrow setup. These can run $5,000 to $10,000. Some lenders offer "Zero Closing Cost" VA loans, but they just bake those costs into a higher interest rate.
Basically, you pay for it one way or another.
Actionable Steps to Lock Your Best Rate
Don't just check a website and assume that's the market. The market is what a lender puts in writing for you.
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- Check your disability status first. If you’re 10% disabled, you don't pay the funding fee. This makes the VA loan unbeatable compared to any other loan type.
- Get three Loan Estimates. Not pre-approvals—actual Loan Estimates. Lenders are legally required to give you this three-page form after you apply. Compare the "Total Interest Percentage" (TIP) on page 3.
- Watch the 10-Year Treasury. If it’s spiking, your mortgage rate is about to go up. If it’s dropping, wait a day to lock.
- Ask about "Float Down" options. Some lenders let you lock a rate today but "float down" to a lower one if the market improves before you close.
If you’re looking at what is the va interest rate today, remember that 5.7% is the new 3%. It’s not the 2.25% we saw years ago, but in the context of the last two decades, it’s a very solid rate for a zero-down-payment mortgage.
Get your credit report cleaned up. Even a 20-point jump in your score could move you from a "standard" rate to a "preferred" rate tier, saving you thousands before you even sign the deed.