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VA Mortgage Rate Trends ; VA mortgage rates might stay in the same neighborhood for a while. In June 2024, the Federal Reserve’s rate-setting committee decided to leave the benchmark interest rate at 5.25% to 5.50%. The rate—which applies to money that banks borrow from one another overnight—remains in that range because inflation is still stuck above the Fed’s target of 2%, the nation’s central bank says, and “the economic outlook is uncertain.” · Fed watchers had expected two rate cuts this year, but the Fed is now projecting j ...
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