As a financial advisor with years of experience in the mortgage industry, I can provide you with a comprehensive overview of the current mortgage rates and factors that influence them.

Mortgage rates are influenced by a variety of factors, including economic conditions, the Federal Reserve's monetary policy, inflation, and the supply and demand for mortgage-backed securities. It's important to note that mortgage rates can fluctuate daily and can vary significantly from one lender to another.

30-Year Fixed-Rate Mortgages: These are the most common type of mortgage loans. They offer a fixed interest rate for the entire term of the loan, which provides stability and predictability for homeowners. The rates for these mortgages are typically higher than adjustable-rate mortgages because they offer the borrower more security.

Adjustable-Rate Mortgages (ARMs): These mortgages have an interest rate that can change over time, usually after an initial fixed-rate period. The rates on ARMs are generally lower than fixed-rate mortgages because they carry more risk for the borrower. However, they can be advantageous for those who plan to sell or refinance their home before the rate adjusts.

VA Loans: These are special loans for veterans and active-duty military personnel. VA loans often have lower rates and more favorable terms than conventional loans. The example you provided, a 30-year fixed-rate VA loan, would have a rate that is fixed for the entire term of the loan.

5-Year ARM: The example you mentioned is a 5-year ARM, which means the interest rate is fixed for the first five years and then adjusts annually thereafter. The initial payment calculation you provided takes into account the loan amount, the initial interest rate, and the loan-to-value ratio (LTV). The Annual Percentage Rate (APR) includes the interest rate plus any points and other fees, giving a more comprehensive view of the cost of the loan.

When considering a mortgage, it's crucial to shop around and compare rates from different lenders. Rates can vary widely, and even a small difference in the interest rate can have a significant impact on the total cost of the loan over time. Additionally, it's important to consider other factors such as closing costs, points, and fees when comparing mortgage offers.

It's also worth noting that mortgage rates are not the only consideration when choosing a mortgage. The terms of the loan, the lender's reputation, and the type of mortgage (fixed-rate vs. adjustable-rate) are all important factors to consider.

In conclusion, the going rate for a mortgage can vary widely depending on the type of mortgage, the borrower's credit score, the loan amount, and current market conditions. It's always a good idea to consult with a financial advisor or mortgage professional to get the most up-to-date information and to find the best mortgage option that suits your needs.

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30-year Fixed-Rate VA Loan: Rate is fixed. ... Adjustable-Rate Mortgage: The initial payment on a 30-year $200,000 5-year Adjustable-Rate Loan at 3.875% and 75.00% loan-to-value (LTV) is $940.48 with 1.875 points due at closing. The Annual Percentage Rate (APR) is 4.843%.read more >>