Compare national home purchase rates for FHA, 30 year, 20 year, 15 Year, ARMs and VA loans by credit score and for credit unions, banks and online lenders. Real home mortgage rates. Not teasers.
Home Mortgage Rates –
Real home mortgage rates, not teasers. The rates below are provided by homeowners members throughout America who shopped for their mortgage very recently. The rates are not the same as what you see online elsewhere since they’re not promo or teaser rates. National rates in the table are States’ average and the State rates are 30-year Fixed rates.
See all your State’s different terms rates by clicking on your state.
| Credit Score | |||
|---|---|---|---|
| 720 - 850 | 690 - 719 | 620 - 689 | |
| Nationally | 7.21% | 7.26% | 7.31% |
| Credit Unions | 6.81% | 6.86% | 7.01% |
| Online lenders | 6.91% | 6.96% | 7.11% |
| Banks | 7.21% | 7.26% | 7.31% |
| 30 year fixed rate | 7.21% | 7.26% | 7.31% |
| 30 year fixed rate FHA | 6.10% | 6.15% | 6.20% |
| 30 year fixed rate VA | 7.01% | 7.06% | 7.11% |
| 30 year fixed Jumbo | 7.44% | 7.82% | 8.01% |
| 20 year fixed rate | 7.19% | 7.24% | 7.29% |
| 15 year fixed rate | 6.52% | 6.57% | 6.62% |
| 10 year fixed rate | 6.93% | 6.98% | 7.03% |
| 10 year ARM | 7.19% | 7.24% | 7.29% |
| 7 year ARM | 6.84% | 6.89% | 6.94% |
| 5 year ARM | 6.51% | 6.56% | 6.61% |
| 3 year ARM | 7.47% | 7.52% | 7.57% |
| 30 Year Purchase Rates by State | |||
| Alabama | 7.14% | 7.19% | 7.24% |
| Alaska | 6.76% | 6.81% | 6.86% |
| Arizona | 7.31% | 7.36% | 7.41% |
| Arkansas | 6.98% | 7.03% | 7.08% |
| California | 7.13% | 7.18% | 7.23% |
| Colorado | 7.33% | 7.38% | 7.43% |
| Connecticut | 7.29% | 7.34% | 7.39% |
| Delaware | 7.06% | 7.11% | 7.16% |
| Florida | 7.34% | 7.39% | 7.44% |
| Georgia | 7.22% | 7.27% | 7.32% |
| Hawaii | 6.93% | 6.98% | 7.03% |
| Idaho | 7.09% | 7.14% | 7.19% |
| Illinois | 7.36% | 7.41% | 7.46% |
| Indiana | 7.33% | 7.38% | 7.43% |
| Iowa | 7.23% | 7.28% | 7.33% |
| Kansas | 7.18% | 7.23% | 7.28% |
| Kentucky | 7.21% | 7.26% | 7.31% |
| Louisiana | 7.23% | 7.28% | 7.33% |
| Maine | 6.87% | 6.92% | 6.97% |
| Maryland | 7.24% | 7.29% | 7.34% |
| Massachusetts | 7.14% | 7.19% | 7.24% |
| Michigan | 7.33% | 7.38% | 7.43% |
| Minnesota | 7.33% | 7.38% | 7.43% |
| Mississippi | 7.34% | 7.39% | 7.44% |
| Missouri | 7.24% | 7.29% | 7.34% |
| Montana | 7.14% | 7.19% | 7.24% |
| Nebraska | 7.33% | 7.38% | 7.43% |
| Nevada | 7.31% | 7.36% | 7.41% |
| New Hampshire | 7.25% | 7.30% | 7.35% |
| New Jersey | 7.28% | 7.33% | 7.38% |
| New Mexico | 7.43% | 7.48% | 7.53% |
| New York | 7.05% | 7.10% | 7.15% |
| North Carolina | 7.19% | 7.24% | 7.29% |
| North Dakota | 7.14% | 7.19% | 7.24% |
| Ohio | 7.36% | 7.41% | 7.46% |
| Oklahoma | 7.24% | 7.29% | 7.34% |
| Oregon | 7.44% | 7.49% | 7.54% |
| Pennsylvania | 7.29% | 7.34% | 7.39% |
| Rhode Island | 6.76% | 6.81% | 6.86% |
| South Carolina | 7.32% | 7.37% | 7.42% |
| South Dakota | 7.24% | 7.29% | 7.34% |
| Tennessee | 7.35% | 7.40% | 7.45% |
| Texas | 7.21% | 7.26% | 7.31% |
| Utah | 7.08% | 7.13% | 7.18% |
| Vermont | 7.22% | 7.27% | 7.32% |
| Virginia | 7.24% | 7.29% | 7.34% |
| Washington | 7.16% | 7.21% | 7.26% |
| West Virginia | 7.22% | 7.27% | 7.32% |
| Wisconsin | 7.22% | 7.27% | 7.32% |
| Wyoming | 7.29% | 7.34% | 7.39% |
Source: MFP’s Community Home Purchase Rates Survey of over 6,000 members in the last 7 days.
The rate you see on this table depends on a mix of factors, from your credit score to the loan type you pick. Here’s how to read the numbers and what to check before you lock a rate.
What Affects Your Purchase Rate
Lenders price purchase loans based on risk. The lower the risk you represent, the lower the rate you’re offered.
- Credit score. A higher score usually means a lower rate.
- Down payment size. Putting more money down lowers your loan to value ratio, which can lower your rate.
- Loan type. Conventional, FHA, VA, and jumbo loans are priced differently.
- Loan term. A 15 year loan typically carries a lower rate than a 30 year loan.
- Rate lock period. A longer lock usually costs slightly more.
MFP Tip: Your quoted rate can shift between preapproval and closing if your credit score, income, or debt changes. Avoid new credit accounts or large purchases while your loan is in process.
Reading the Table: Loan Types Explained
Each row in the table above represents a different loan type. Here’s what each one means.
30 Year Fixed
The most common purchase loan. Your rate and payment stay the same for the full 30 years. See current 30 year fixed rates.
15 Year Fixed
A shorter payoff timeline with a lower rate, paired with a higher monthly payment. See current 15 year fixed rates.
Adjustable Rate Mortgage (ARM)
An ARM starts with a fixed rate for the first few years, then adjusts based on market conditions. Compare 3 year, 5 year, and 7 year ARM rates.
FHA
Backed by the Federal Housing Administration, built for buyers with a lower credit score or a smaller down payment. See current FHA rates.
VA
Available to eligible veterans and service members, with no down payment required and no mortgage insurance. See current VA rates.
Jumbo
Used for loan amounts above the conforming loan limit in your county, common in higher cost markets. See current jumbo rates.
MFP Tip: Not sure which loan type fits your situation? Our first time buyer guide compares FHA, conventional, VA, and USDA side by side.
Purchase Rates vs Refinance Rates
Purchase and refinance rates for the same loan type aren’t always equal. Lenders often price purchase loans slightly lower, since a home sale falls through more easily than a refinance, which pushes lenders to compete harder for that business.
If you’re refinancing an existing mortgage instead of buying, check our refinance rates page for numbers that match your situation.
Rate Locks: What to Know Before You Shop
A rate lock holds your interest rate steady for a set window while your loan moves through underwriting.
- Typical lock windows run 30, 45, or 60 days.
- A longer lock costs more but protects you if your closing gets delayed.
- A lock that expires before closing can mean a new rate at current market pricing.
The Consumer Financial Protection Bureau has a short breakdown of how rate locks work if you want the regulatory side of it.
MFP Tip: Ask your lender about a float down option. It lets you lower your locked rate once if market rates drop before closing.
FAQs: Purchase Mortgage Rates
Why is the rate a lender quotes me different from this table?
This table shows national averages. Your actual rate depends on your credit score, down payment, and loan type, so a quote can land above or below the average shown here.
Do I need a higher credit score for a purchase rate than a refinance rate?
Not typically. Credit score thresholds are usually the same for both, though the rate itself can differ between the two.
How long is a rate good for once I lock it?
Most locks last 30 to 60 days. Check your lock agreement for the exact window and what happens if your closing runs past it.
Does my down payment size change my rate, not just my mortgage insurance?
Yes. A larger down payment lowers your loan to value ratio, which can lower your rate in addition to reducing or removing mortgage insurance.
Ready to compare lenders directly? See our best rated mortgage lenders or check rates by metro area.
Home Mortgage Rates by State
Need precise rates in your state and your metro area? You can see home loans rates in your state and most major metro areas by selecting your state below. You’ll also find rates by lenders (credit unions, banks and online lenders) and by credit scores for all main loans terms.
Best Rated Home Loan Lenders by State
If you need references on lenders for home loans in your state and area, our home loans community survey gathers home loans lenders feedback from homeowners in your area throughout the year. You can see satisfaction with home purchase lenders in your area by selecting your state.
Leave a Reply
You must be logged in to post a comment.