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The Veterans Administration said it was raising...

The Veterans Administration said it was raising its maximum interest rate for federally backed VA home mortgages by one-half percentage point to 10.5%. VA spokeswoman Pam Siciliano said the agency was making the change, which will take effect Monday, to reflect recent increases in interest rates in financial markets. In the past 16 months, the VA rate has fluctuated between 8.5% and 10.5%. It has changed three times this year, with the last change coming on April 4 when the rate was increased to 10% from 9.5%.


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