30-Year Fixed Rate Veterans Affairs Mortgage Index
OBMMIVA30YF • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
6.19
Year-over-Year Change
-2.48%
Date Range
10/7/2021 - 8/6/2025
Summary
The 30-Year Fixed Rate Veterans Affairs Mortgage Index tracks the average interest rate for long-term home loans available to military veterans through VA-backed mortgage programs. This metric is crucial for understanding housing affordability and lending conditions for military service members and their families.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
This index represents the prevailing interest rate for 30-year fixed-rate mortgages specifically guaranteed by the Department of Veterans Affairs. Economists use this trend to assess housing market accessibility, lending environment, and potential economic support for veterans.
Methodology
The rate is calculated by surveying lenders and averaging the current interest rates for VA-backed 30-year fixed-rate mortgages across the United States.
Historical Context
Policymakers and financial analysts use this index to evaluate housing market conditions, veteran economic support, and potential monetary policy impacts.
Key Facts
- Specifically designed for veterans and eligible service members
- Typically offers more favorable terms compared to conventional mortgages
- Reflects broader economic lending conditions and veteran economic support
FAQs
Q: Who qualifies for a VA mortgage?
A: Active duty military, veterans, and certain surviving military spouses may qualify for VA-backed mortgages based on service duration and discharge status.
Q: How do VA mortgage rates differ from conventional rates?
A: VA mortgages often have lower interest rates and do not require private mortgage insurance, making them more affordable for eligible borrowers.
Q: How often is the VA mortgage rate index updated?
A: The index is typically updated weekly, reflecting current market conditions and lending environment.
Q: What makes VA mortgages unique?
A: VA mortgages offer zero or low down payment options and more lenient credit requirements compared to traditional mortgage products.
Q: Are there limitations to VA mortgage programs?
A: There are loan amount limits and specific eligibility requirements based on service history and current military status.
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Citation
U.S. Federal Reserve, 30-Year Fixed Rate Veterans Affairs Mortgage Index [OBMMIVA30YF], retrieved from FRED.
Last Checked: 8/1/2025