Average U.S. Mortgage Rates 2019

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The average rate for a 30-year fixed rate mortgage is currently 4.41%, with actual offered rates ranging from 3.63% to 7.84%. Home loans with shorter terms or adjustable rate structures tend to have lower average interest rates. While it's useful to know what rates you can expect on average, the mortgage rates you'll find will also depend on your individual credit history, loan amount, and down payment.

If you're interested in how your current options compare to today's average rates, use our rate tool for a quick look at mortgages for your chosen loan amount and location. The tool requires no credit check or income details.

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Average Mortgage Rates Today

These average rates and ranges reflect several assumptions that you should keep in mind. The most important of these include the loan amount and loan-to-value ratio (LTV). If your mortgage balance is greater than the $200,000 baseline used to find these averages, then your rate will probably be higher as well. For LTV, our mortgage rate averages assume a value of 80%—equal to a down payment of 20%. A lower down payment means a higher LTV, resulting in a rate estimate that's higher than average.

Loan TypeAverage RateRange
30-year fixed4.41%3.63%–7.84%
15-year fixed3.95%2.88%–8.75%
5/1 ARM4.02%2.63%–8.50%

Rates assume a loan amount of $200,000 and a loan-to-value ratio of 80%. ARM rates apply to the initial fixed-rate period, after which rates can change based on market conditions.

On the other hand, having a lower mortgage balance or larger down payment means that your quoted rates might fall below the average rates of the loan types you request. Mortgage lenders may also offer lower rates to applicants based on credit scores and debt-to-income ratios (DTI). A higher credit score leads to more favorable loan terms, including a lower interest rate. DTI is calculated as your total monthly debt payments divided by monthly gross income, so a lower DTI indicates better financial health and reduces the mortgage rates you'll be offered.

Average 30-Year Mortgage Rates

We also looked at the average 30-year mortgage rates in each state, based on the same assumptions for loan balance and LTV as above. Mortgage rates everywhere tend to move up or down in unison, and they show only slight differences from place to place.

Average 30-Year Mortgage Rates by State

StateAverage RateRange
Alabama4.42%3.75%–5.13%
Alaska4.30%3.88%–4.88%
Arizona4.42%3.63%–5.00%
Arkansas4.47%3.99%–5.13%
California4.31%3.75%–5.25%
Colorado4.43%3.75%–5.50%
Connecticut4.26%3.75%–5.13%
Delaware4.41%3.88%–5.00%
District of Columbia4.31%3.75%–4.75%
Florida4.39%3.75%–5.13%
Georgia4.38%3.75%–5.75%
Guam4.07%3.75%–4.38%
Hawaii4.28%3.63%–4.75%
Idaho4.29%3.88%–4.88%
Illinois4.42%3.75%–5.88%
Indiana4.42%3.88%–7.25%
Iowa4.35%3.75%–5.13%
Kansas4.39%3.75%–5.13%
Kentucky4.44%3.75%–6.38%
Louisiana4.41%3.75%–5.13%
Maine4.51%3.99%–6.25%
Maryland4.32%3.75%–5.00%
Massachusetts4.22%3.75%–5.00%
Michigan4.40%3.88%–5.13%
Minnesota4.37%3.63%–5.13%
Mississippi4.49%3.75%–5.38%
Missouri4.46%3.75%–5.25%
Montana4.50%4.00%–4.88%
Nebraska4.45%3.75%–5.75%
Nevada4.33%3.75%–5.00%
New Hampshire4.27%3.88%–4.88%
New Jersey4.28%3.75%–5.00%
New Mexico4.47%3.75%–5.00%
New York4.37%3.75%–7.00%
North Carolina4.41%3.75%–5.38%
North Dakota4.41%4.00%–4.88%
Ohio4.43%3.75%–7.00%
Oklahoma4.45%3.75%–5.25%
Oregon4.38%3.88%–4.88%
Pennsylvania4.30%3.75%–5.50%
Puerto Rico4.43%4.13%–4.88%
Rhode Island4.25%3.75%–4.50%
South Carolina4.40%3.75%–5.50%
South Dakota4.40%3.88%–4.88%
Tennessee4.49%3.75%–5.50%
Texas4.49%3.75%–6.75%
Utah4.26%3.88%–4.63%
Vermont4.36%4.00%–4.88%
Virgin Islands4.51%4.38%–4.63%
Virginia4.37%3.63%–5.25%
Washington4.35%3.75%–5.00%
West Virginia4.71%4.00%–7.84%
Wisconsin4.31%3.88%–5.13%
Wyoming4.49%4.13%–5.50%
Rates assume a loan amount of $200,000 and a loan-to-value ratio of 80%.

Our list of average mortgage rates in each state and territory shows that differences across the U.S. turn out to be fairly small, especially when we compare each state to the overall national average of 4.41%. The lowest and highest national mortgage rates we found were separated by 421 basis points.

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While each state reported a much wider range of minimum and maximum rates for the 30-year mortgage, it's more likely that your estimates will align with your state's reported average. The highest and lowest rates recorded for each state probably involved borrowers or properties with exceptional circumstances, which are unlikely to apply in a typical mortgage situation.

Average 15-Year Mortgage Rates

Average 15-year fixed mortgage rates tend to be lower than rates for 30-year home loans. While this does mean less money spent on interest, the monthly payments on a 15-year loan are consistently higher in all states. This is due to the fact that the loan balance is repaid in just half the time of a standard 30-year term.

Average 15-Year Mortgage Rates by State


State
Average RateRange
Alabama4.00%3.13%–5.49%
Alaska3.81%3.38%–4.38%
Arizona3.88%3.00%–4.63%
Arkansas3.99%3.38%–4.63%
California3.80%3.00%–6.63%
Colorado3.94%3.25%–4.88%
Connecticut3.72%3.13%–4.50%
Delaware3.83%3.25%–4.50%
District of Columbia3.72%3.25%–4.43%
Florida3.89%3.25%–5.25%
Georgia3.91%3.13%–5.50%
Guam3.50%3.25%–3.75%
Hawaii3.76%2.88%–4.28%
Idaho3.81%3.25%–5.50%
Illinois3.93%3.25%–5.28%
Indiana3.93%3.13%–6.50%
Iowa3.92%3.13%–4.75%
Kansas3.99%3.13%–6.13%
Kentucky4.00%3.13%–6.00%
Louisiana3.92%3.25%–4.63%
Maine4.03%3.25%–5.34%
Maryland3.74%3.00%–4.50%
Massachusetts3.75%3.13%–4.38%
Michigan3.91%3.25%–4.75%
Minnesota3.88%3.00%–4.88%
Mississippi4.05%3.25%–6.13%
Missouri4.01%3.25%–5.25%
Montana3.99%3.38%–4.50%
Nebraska4.03%3.25%–5.25%
Nevada3.80%3.25%–4.63%
New Hampshire3.78%3.25%–4.25%
New Jersey3.79%3.25%–4.75%
New Mexico3.98%3.25%–5.16%
New York3.91%3.13%–6.00%
North Carolina3.95%3.25%–6.00%
North Dakota3.89%3.38%–4.49%
Ohio4.01%3.13%–7.00%
Oklahoma4.04%3.25%–5.13%
Oregon3.86%3.25%–4.50%
Pennsylvania3.87%3.13%–6.50%
Puerto Rico3.97%3.38%–4.75%
Rhode Island3.73%3.13%–4.13%
South Carolina3.87%3.25%–4.84%
South Dakota3.88%3.25%–4.38%
Tennessee4.05%3.13%–6.75%
Texas4.03%3.13%–5.50%
Utah3.75%3.13%–4.38%
Vermont3.86%3.50%–4.38%
Virgin Islands4.19%4.13%–4.25%
Virginia3.93%3.13%–6.00%
Washington3.84%3.25%–6.50%
West Virginia4.26%3.25%–8.75%
Wisconsin3.82%3.25%–4.80%
Wyoming3.99%3.50%–5.00%
Rates assume a loan amount of $200,000 and a loan-to-value ratio of 80%.

Because they're paid back twice as quickly as the more popular 30-year mortgage, 15-year fixed-rate mortgages represent a better proposition for lenders. A shorter loan term means lower operating expenses and presents less risk from the lender's point of view. This makes banks, credit unions and direct lenders more willing to offer low mortgage rates to borrowers who apply for 15-year home loans. While cutting the repayment term in half significantly raises monthly payments, a shorter loan will save you over half the final cost of interest on a 30-year mortgage for the same loan amount.

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Editorial Note: The editorial content on this page is not provided or commissioned by any financial institution. Any opinions, analyses, reviews, statements or recommendations expressed in this article are those of the author alone, and may not have been reviewed, approved or otherwise endorsed by any of these entities prior to publication.

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Get Multiple Mortgage Offers at Once
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LendingTree can help you find and compare mortgage rates, all without affecting your credit.
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See Offers

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