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Hey GVM, Where are Lending Interest Rates at Right now? per Joel Richardson Vera Bank.

 “When I discover who I am, I’ll be free.” Ralph Ellison

Current Rates* as of 06/18/2024:

  • 30yr fixed Conventional: 6.625% (APR= 6.817%)
  • 15yr fixed Conventional: 5.75% (APR= 5.988%)
  • 30yr fixed FHA/VA: 6.125% (APR= 6.915%)
  • 30yr fixed Jumbo: 7.25% (APR= 7.406%)
  • 10/10 ARM Jumbo: 7.375% (APR= 7.258%) no points!!
  • Investor- Conventional 30yr fixed: 7.5% (APR= 7.754%) 
  • One-Time-Close Construction Jumbo: starts at 8.0% at no points!
  • Land loans: starts at 9.15% (5yr term)

Note: APR= Annualized Percentage Rate. Conforming, jumbo & Renovation rates are 20% (25% for investors) down on a purchase transaction and assumes >760 credit scores, full documentation at a charge of one discount point on a single-family home. Investor rates assume two points. Renovation loans assumes 180 day completion period on a purchase and is a FNMA conforming loan amount. FHA/VA rates assume minimum required down payment, > 760 credit scores and full documentation on a single-family home. Please refer to disclaimer at bottom of this page.

Direction Rates are Moving:



Quick n’ Dirty: Retail Sales rise less than expected  


The Detail:

  • Though Retail Sales edged up 0.1% in May, it was less than forecasts of 0.2% increase.

The Horizon:

On Wednesday: Markets are closed for Juneteenth holiday. Thursday? It’s housing data day: weekly mortgage applications, building permits, housing starts + initial jobless claims. We finish the week with existing home sales and S&P PMI flash report








VeraBank, N.A.
Joel Richardson
SVP ‑ Central Texas Mortgage Manager, Austin
VeraBank, N.A.
P: 512-222-0140 EXT. 7740 | 877-566-2621 
M: 512-203-8244
E: | W:
A: 1111 W. 6th Street, Bldg B, Suite 200AustinTexas 78703
NMLS # 136881
Is now a good time to buy a home?
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