Average U.S. Mortgage Rates for September 9, 2019

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The average rate for a 30-year fixed rate mortgage is currently 3.98%, with actual offered rates ranging from 3.00% to 7.50%. 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 finding out what current mortgage rate you might qualify for, use our rate tool at the top of the page to check mortgage rates for your chosen loan amount and location. No credit check required for estimated results.

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Average Mortgage Rates Today

We present the average 30- year, 15- year, and 5/1 ARM rates for all 50 states and the District of Columbia. These current rates update on a weekly basis and vary according to your state of residence.

Our current mortgage rates reflect several assumptions: 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 likely 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 fixed3.98%3.00%–7.50%
15-year fixed3.54%2.50%–8.75%
5/1 ARM3.78%2.38%–8.25%

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

Here are the current average 30-year mortgage rates in each state, based on the same assumptions for loan balance and LTV as above. Current mortgage rates everywhere tend to move up or down in unison, and may reflect slight differences based on your state of residence.

Average 30-Year Mortgage Rates by State

StateAverage RateRange
Alabama4.05%3.25%–4.88%
Alaska3.99%3.25%–4.63%
Arizona4.02%3.25%–4.88%
Arkansas4.08%3.25%–5.00%
California3.83%3.13%–4.88%
Colorado4.06%3.38%–6.25%
Connecticut3.79%3.38%–4.75%
Delaware3.86%3.25%–5.00%
District of Columbia3.84%3.25%–4.75%
Florida3.98%3.25%–5.00%
Georgia3.97%3.25%–5.50%
Guam3.57%3.38%–3.75%
Hawaii3.88%3.13%–4.65%
Idaho3.91%3.25%–4.88%
Illinois3.99%3.13%–5.88%
Indiana3.93%3.13%–7.00%
Iowa3.90%3.00%–4.88%
Kansas3.99%3.25%–5.00%
Kentucky4.10%3.38%–5.88%
Louisiana4.02%3.25%–4.88%
Maine4.05%3.38%–6.25%
Maryland3.84%3.25%–5.00%
Massachusetts3.74%3.25%–4.75%
Michigan3.86%3.25%–4.75%
Minnesota3.93%3.25%–4.99%
Mississippi4.06%3.38%–4.88%
Missouri4.07%3.25%–5.00%
Montana4.14%3.38%–4.88%
Nebraska4.01%3.38%–5.75%
Nevada3.87%3.25%–4.75%
New Hampshire3.77%3.38%–4.88%
New Jersey3.86%3.25%–4.63%
New Mexico4.04%3.38%–4.88%
New York3.86%3.25%–7.00%
North Carolina3.90%3.25%–5.00%
North Dakota4.01%3.28%–4.88%
Ohio3.96%3.25%–7.50%
Oklahoma4.08%3.25%–4.75%
Oregon3.92%3.38%–5.00%
Pennsylvania3.85%3.25%–5.50%
Puerto Rico4.13%3.50%–4.75%
Rhode Island3.72%3.38%–4.38%
South Carolina4.03%3.25%–5.50%
South Dakota4.05%3.38%–5.00%
Tennessee4.13%3.13%–5.13%
Texas4.12%3.25%–6.75%
Utah3.85%3.25%–4.75%
Vermont3.81%3.38%–4.88%
Virgin Islands4.13%4.13%–4.13%
Virginia3.95%3.25%–5.25%
Washington3.92%3.25%–5.00%
West Virginia4.23%3.38%–7.50%
Wisconsin3.80%3.00%–4.88%
Wyoming4.17%3.50%–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 3.98%. The lowest and highest national mortgage rates we found were separated by 450 basis points.

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

Here are the current average 15- year mortgage rates in each state. 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 because the loan balance is repaid in half the time of a standard 30-year loan term.

Average 15-Year Mortgage Rates by State


State
Average RateRange
Alabama3.65%2.75%–5.63%
Alaska3.56%2.88%–4.25%
Arizona3.48%2.75%–4.50%
Arkansas3.58%2.75%–4.38%
California3.36%2.75%–6.38%
Colorado3.58%2.75%–6.25%
Connecticut3.28%2.75%–4.38%
Delaware3.33%2.88%–4.49%
District of Columbia3.26%2.75%–4.50%
Florida3.46%2.50%–4.50%
Georgia3.51%2.75%–5.25%
Guam2.94%2.75%–3.13%
Hawaii3.43%2.63%–4.38%
Idaho3.45%2.75%–5.50%
Illinois3.50%2.75%–5.28%
Indiana3.45%2.88%–6.13%
Iowa3.49%2.50%–5.13%
Kansas3.59%2.75%–5.88%
Kentucky3.66%2.75%–5.63%
Louisiana3.54%2.75%–4.38%
Maine3.65%3.00%–5.10%
Maryland3.29%2.75%–4.50%
Massachusetts3.27%2.75%–4.25%
Michigan3.40%2.75%–4.50%
Minnesota3.43%2.70%–4.45%
Mississippi3.64%2.75%–5.65%
Missouri3.62%2.75%–5.00%
Montana3.66%2.88%–4.50%
Nebraska3.56%2.75%–5.25%
Nevada3.37%2.75%–4.63%
New Hampshire3.32%2.88%–4.25%
New Jersey3.33%2.75%–4.25%
New Mexico3.56%2.75%–5.16%
New York3.41%2.75%–5.75%
North Carolina3.50%2.75%–5.50%
North Dakota3.50%2.88%–4.24%
Ohio3.54%2.75%–7.00%
Oklahoma3.64%2.75%–5.25%
Oregon3.46%2.75%–4.50%
Pennsylvania3.42%2.75%–6.50%
Puerto Rico3.68%3.00%–4.63%
Rhode Island3.22%2.75%–3.75%
South Carolina3.52%2.75%–4.63%
South Dakota3.55%2.88%–4.38%
Tennessee3.68%2.75%–4.90%
Texas3.67%2.63%–5.63%
Utah3.36%2.75%–4.38%
Vermont3.31%3.00%–4.25%
Virgin Islands4.00%4.00%–4.00%
Virginia3.49%2.75%–5.63%
Washington3.46%2.75%–6.13%
West Virginia3.82%2.88%–8.75%
Wisconsin3.33%2.75%–4.80%
Wyoming3.68%2.88%–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 borrower. 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.

Average 5/1 ARM Rates

Here are the current average 5/1 adjustable rates mortgage (ARM) rates for each state. Average 5/1 ARMs tend to feature lower rates than comparable 30-year and 15-year home loans, at least during the initial 5 year promotional period. Rates will adjust to market rates, plus a spread, following the expiration of the initial 5 year period.

Average 5/1-ARM Rates by State


State
Average RateRange

Alabama
3.87%2.95%–5.50%
Alaska3.84%3.38%–4.50%
Arizona3.64%2.88%–4.63%
Arkansas4.18%2.88%–6.43%
California3.52%2.38%–6.00%
Colorado3.88%2.50%–6.00%
Connecticut3.44%2.63%–4.50%
Delaware3.75%2.75%–5.75%
District of Columbia3.50%2.63%–4.50%
Florida3.69%2.38%–4.75%
Georgia3.63%2.63%–5.50%
Guam3.13%3.13%–3.13%
Hawaii3.33%2.50%–4.63%
Idaho3.61%2.88%–4.50%
Illinois3.82%2.63%–5.50%
Indiana3.80%2.50%–5.75%
Iowa4.02%3.00%–5.88%
Kansas3.97%3.00%–5.80%
Kentucky3.95%2.86%–5.79%
Louisiana3.69%2.88%–4.63%
Maine3.74%2.88%–4.75%
Maryland3.55%2.88%–5.75%
Massachusetts3.49%2.50%–5.25%
Michigan3.66%2.63%–6.27%
Minnesota3.64%2.63%–5.88%
Mississippi3.63%3.13%–5.00%
Missouri4.05%2.75%–6.00%
Montana3.89%3.25%–5.75%
Nebraska4.05%3.13%–4.75%
Nevada3.73%2.50%–4.63%
New Hampshire3.43%2.50%–4.00%
New Jersey3.61%2.85%–5.75%
New Mexico3.70%2.88%–5.00%
New York3.50%2.38%–5.00%
North Carolina3.64%2.63%–4.95%
North Dakota3.66%2.50%–4.88%
Ohio3.92%2.50%–5.99%
Oklahoma3.89%2.75%–6.63%
Oregon3.58%2.50%–4.50%
Pennsylvania3.68%2.74%–5.25%
Puerto Rico3.13%3.13%–3.13%
Rhode Island3.43%2.88%–4.13%
South Carolina3.75%2.63%–6.45%
South Dakota4.17%3.25%–5.88%
Tennessee3.78%2.63%–5.00%
Texas3.89%2.75%–8.25%
Utah3.51%2.50%–4.75%
Vermont3.45%2.88%–4.38%
Virginia3.61%2.63%–4.65%
Washington3.69%2.75%–5.50%
West Virginia3.89%3.13%–5.50%
Wisconsin3.90%2.63%–6.27%
Wyoming3.79%3.13%–4.38%
Rates assume a loan amount of $200,000 and a loan-to-value ratio of 80%.

While ARMs do offer lower monthly payments in the short run, the variable interest rates on 5/1 ARMs means that your monthly payments adjust to market rates upon expiration of the temporary promotional rate period. This means that your monthly payments may increase significantly on an annual basis, especially if interest rates are on the rise. This makes them a risky proposition unless you're committed to selling or refinancing the property within a few years.

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