See the latest Louisiana mortgage rates for fixed rates: 30 year, 20, 15, 10 FHA, VA, Jumbo, plus variable rates: 10, 7, 5, 3 year. Also see how local rates compare nationally and main lending options available across the state.
Buying a home in Louisiana could be easier with today’s mortgage rates.
Mortgage Rates in Louisiana –
The table below shows today’s home purchase mortgage rates for Louisiana, organized by credit score and lender type:
| Credit Score | Satisfaction | |||
|---|---|---|---|---|
| 720 - 850 | 690 - 719 | 620 - 689 | ||
| Nationally | 7.21% | 7.26% | 7.31% | |
| Louisiana | 7.23% | 7.28% | 7.33% | |
| Credit Unions | 6.83% | 6.88% | 7.03% | 9.0/10 |
| Online lenders | 6.93% | 6.98% | 7.13% | 8.5/10 |
| Banks | 7.23% | 7.28% | 7.33% | 7.8/10 |
| 30 year fixed | 7.23% | 7.28% | 7.33% | |
| 30 year fixed FHA | 6.72% | 6.77% | 6.82% | |
| 30 year fixed VA | 6.00% | 6.05% | 6.10% | |
| 30 year fixed Jumbo | 7.46% | 7.84% | 8.03% | |
| 20 year fixed | 6.55% | 6.60% | 6.65% | |
| 15 year fixed | 6.72% | 6.77% | 6.82% | |
| 10 year fixed | 6.30% | 6.35% | 6.40% | |
| 3 year ARM | 4.26% | 4.31% | 4.36% | |
| 5 year ARM | 6.94% | 6.99% | 7.04% | |
| 7 year ARM | 6.87% | 6.92% | 6.97% | |
| 10 year ARM | 7.21% | 7.26% | 7.31% | |
| Satisfaction | 8.2/10 | 8.1/10 | 7.8/10 |
Source: MFP’s Community Home Purchase Rates Survey from Louisiana members in the last 30 days.
How Louisiana Compares to National Averages
- Louisiana mortgage rates (7.23% for best credit scores) are in line with national averages (national average: 7.21%).
- Credit unions are more competitive: In Louisiana, credit unions offer 6.83%, banks 7.23%, online lenders 6.93%.
Mortgage Options in Louisiana
- 30 year fixed: 7.23% - most popular long-term option for predictable payments
- 20 year fixed: 6.55% - balance between payment size and interest savings
- 15 year fixed: 6.72% - lower total interest cost for borrowers building equity faster
- 10 year fixed: 6.30% - shortest fixed-term option with competitive rates
- 10 year variable: 4.26% - Offers a longer initial period with a variable rate...
- 7 year variable: 6.94% - A mid-term variable option...
- 5 year variable: 6.87% - Shorter-term variable mortgage...
- 3 year variable: 7.21% - Quick-adjusting mortgage...
- FHA mortgage: government-backed with flexible credit requirements
- VA mortgage: exclusive to veterans and military members with competitive rates
Louisiana Metro Mortgage Rates*
| Metro / City | 30-Year Fixed APR | 15-Year Fixed APR |
|---|---|---|
| New Orleans | 6.23% | 5.76% |
| Baton Rouge | 6.19% | 5.72% |
| Shreveport | 6.22% | 5.75% |
| Lafayette | 6.20% | 5.73% |
| Lake Charles | 6.21% | 5.74% |
* APR rates shown are for borrowers with excellent credit. Click city names to view recommended lenders and ratings.
Louisiana Best Mortgage Lenders
See which Louisiana lenders are most recommended for a home mortgage by community members surveys in the State and in its main metro areas.
New Orleans, Baton Rouge, Shreveport, Metairie, Lafayette, Lake Charles, Bossier City, Kenner, Monroe, Alexandria, Online lenders.
FAQs Louisiana Mortgage Rates
Are home purchase rates higher in Louisiana than the U.S. average?
No, Louisiana mortgage rates typically run slightly below the national average, providing cost savings for local homebuyers.
What credit score is best for buying a home in Louisiana?
A credit score of 720 or higher typically secures the most competitive mortgage rates available in Louisiana.
Is it better to choose a fixed-rate or ARM in Louisiana?
Fixed-rate mortgages offer payment stability for long-term residents, while ARMs may benefit those planning to move or refinance within a few years.
More Info for Louisiana Home Buyers:
Mortgage Rates & Tools
Home Purchase Calculator: Estimate your monthly payment.
First-Time Home Buyer: Guide for Louisiana first home buyers.
Home Affordability Calculator: See what price range fits your budget.
FHA Mortgage Rates: Current rates for FHA buyers.
30 Year Fixed Home Mortgage: Today’s rate for the most common term.
15 Year Fixed Home Mortgage: Today’s rate for faster payoff.
Loan Programs & Assistance
FHA Loans: How FHA mortgages work and who qualifies.
Down Payment Assistance: Programs that help cover your down payment.
Lenders & Homeowner Resources
Best Mortgage Lenders in Louisiana: Community rated lenders by city.
Louisiana Home Insurance Cost: Average premiums and top rated local insurers.
Homeowner Resources & Grants: Grants and assistance programs nationwide.