Colorado Mortgage Rates for September 2019

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In Colorado, the current average for a 30-year fixed-rate mortgage is 4.09%. The average rate for a 15-year fixed-rate mortgage is 3.61%, and 5/1 adjustable-rate mortgages (ARM) average at 3.91%.

Loan typeAverage rateWeekly change3-month change
30-year fixed4.09%+0.04%–0.18%
15-year fixed3.61%+0.04%–0.17%
5/1 ARM3.91%+0.04%–0.04%
Rates for a $200,000 loan with 20% down payment

A house is probably the largest purchase that most consumers ever make, so it makes sense to be thinking about the interest rate you'll pay on the money you borrow to complete the transaction. In Colorado, we keep track of mortgage rates for different lenders and loan types to help you make informed decisions in your search for home financing.

Best Mortgage Rates in Colorado

In Colorado, the lowest rate offered on a 30-year mortgage rate is 3.38%. A 15-year mortgage can have rates as low as 2.75%, while the best rate for a 5/1 ARM is 2.50%.

The mortgage rates you find will mostly depend on your credit score and other financial details, but your choice of lender can also play a role. The highest and lowest rates on a 30-year mortgage in Colorado were separated by 287 basis points. For a $200,000 home purchase, that difference in rate translates to $99,847 in total interest.

Current Mortgage Rate Forecast for Colorado

For 2019, mortgage rates in Colorado and the remainder of the country may not rise as much as previously anticipated. The Federal Reserve's Open Market Committee (FOMC) recently announced that it would and adopt a data-dependent "wait-and-see" approach to future rate hikes, which may indicate a reduction in the number of rate hikes we saw in 2018.

Line graph of average U.S. 30-year mortgage rates vs. effective federal funds rate since 2014

Currently set at a range of 2.25%-2.50%, the target federal funds rate represents the rate that banks pay to borrow money to fund their operations. Due to the correlation of the federal funds rate to the interest rates offered on both consumer loans and deposits, the FOMC's periodic announcements are viewed as indicators of future rate trends. Partially tied to this trend are long-term mortgage rates, which tend to with short-term rates, although slight deviations exist due to changes in consumer demand, credit considerations and expenses incurred through the loan origination process.

For homebuyers in Colorado, the news of potentially stabilizing rates creates some breathing room for a more deliberate shopping process. In times of rising rates, shoppers often rush to secure financing before interest rates rise too high. With the FOMC announcing its intent to monitor the market prior to implementing future hikes, buyers can take comfort in the knowledge that mortgage rates won't spike while they're shopping for the right home.

Rates at Colorado's Most Popular Mortgage Lenders

There's no shortage of major banks doing business in Colorado, and most continue to offer home loans in the state. We compared a sampling of mortgage rates from the state's biggest lenders to see how much you might benefit by shopping around.

Column graph comparing 30-year mortgage rates at major Colorado banks

While individual results may vary, we did see a range of 30-year mortgage rates from Colorado banks. While most banks matched each other closely, the highest and lowest mortgage rates were 37.5 basis points apart. This suggests that Coloradans should be aggressive about requesting and comparing quotes from the most popular lenders. And since there's a 45-day window in which all home loan applications count as a single credit inquiry, you aren't risking your credit score by gathering quotes from multiple sources.

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Comparing Home Loan Rates by City

Our analysis of mortgage rates by city found that in Colorado, location makes little difference to average mortgage rate. However, the monthly cost of a typical mortgage does vary from place to place, mostly because of changes in real estate values.

MSAAverage mortgage rateMedian home value
Denver-Aurora-Lakewood4.59%$344,276
Colorado Springs4.58%$266,427
Fort Collins4.58%$336,341
Boulder4.63%$464,096
Average rate is for a 30-year mortgage with a 20% down payment.

As the table shows, rates tend to stay the same wherever you're located. Home prices, of course, can vary dramatically. The median value of a home in Boulder was 74% higher than the median in Colorado Springs. Pricier homes require bigger loans and bigger monthly payments, even if rates remain similar. Location does play a major role in how much you spend as a homeowner, but not because of differences in mortgage rate.

Evaluating Your Mortgage Options: An Example in Colorado

Your choice of mortgage type is another factor that affects the ongoing cost of your home. As an example of how this works, let's say you're looking to buy a home in Colorado Springs for about $200,000. Assuming you have a 20% down payment, you'll have a starting loan balance of $160,000. There are several ways to go about repaying this debt.

The most typical option for homeowners is the 30-year fixed-rate mortgage. At Colorado's current rates, the monthly principal and interest for this standard mortgage equal $773. If you held the loan for the full 30 years, you would pay $117,989 in lifetime interest on your house.

But a 30-year fixed rate might not make sense if you plan to sell and move on after just a few years. In this case, the lower rates offered by ARM loans might be a better move. At the current average of 3.91% for a 5/1 ARM, you'd pay a minimum of $756 per month in the first five years of the loan. This could save you thousands of dollars on interest until the initial period ends, after which ARM rates can increase depending on market conditions.

If you like your home and want to own it debt-free as soon as possible, compressing your debt into a 15-year term is another option. This route gives you access to a lower average rate of 3.61%, which combines with fewer overall payments for a much lower $47,446 spent on total interest. But keep in mind that 15-year mortgages always bring higher monthly costs: at today's average rate, you'll pay at least $1,153 per month in Colorado.

In Colorado, the current average for a 30-year fixed-rate mortgage is 4.09%. The average rate for a 15-year fixed-rate mortgage is 3.61%, and 5/1 adjustable-rate mortgages (ARM) average at 3.91%.

Loan typeAverage rateWeekly change3-month change
30-year fixed4.09%+0.04%–0.18%
15-year fixed3.61%+0.04%–0.17%
5/1 ARM3.91%+0.04%–0.04%
Rates for a $200,000 loan with 20% down payment

A house is probably the largest purchase that most consumers ever make, so it makes sense to be thinking about the interest rate you'll pay on the money you borrow to complete the transaction. In Colorado, we keep track of mortgage rates for different lenders and loan types to help you make informed decisions in your search for home financing.

In Colorado, the lowest rate offered on a 30-year mortgage rate is 3.38%. A 15-year mortgage can have rates as low as 2.75%, while the best rate for a 5/1 ARM is 2.50%.

The mortgage rates you find will mostly depend on your credit score and other financial details, but your choice of lender can also play a role. The highest and lowest rates on a 30-year mortgage in Colorado were separated by 287 basis points. For a $200,000 home purchase, that difference in rate translates to $99,847 in total interest.

For 2019, mortgage rates in Colorado and the remainder of the country may not rise as much as previously anticipated. The Federal Reserve's Open Market Committee (FOMC) recently announced that it would and adopt a data-dependent "wait-and-see" approach to future rate hikes, which may indicate a reduction in the number of rate hikes we saw in 2018.

Line graph of average U.S. 30-year mortgage rates vs. effective federal funds rate since 2014

Currently set at a range of 2.25%-2.50%, the target federal funds rate represents the rate that banks pay to borrow money to fund their operations. Due to the correlation of the federal funds rate to the interest rates offered on both consumer loans and deposits, the FOMC's periodic announcements are viewed as indicators of future rate trends. Partially tied to this trend are long-term mortgage rates, which tend to with short-term rates, although slight deviations exist due to changes in consumer demand, credit considerations and expenses incurred through the loan origination process.

For homebuyers in Colorado, the news of potentially stabilizing rates creates some breathing room for a more deliberate shopping process. In times of rising rates, shoppers often rush to secure financing before interest rates rise too high. With the FOMC announcing its intent to monitor the market prior to implementing future hikes, buyers can take comfort in the knowledge that mortgage rates won't spike while they're shopping for the right home.

There's no shortage of major banks doing business in Colorado, and most continue to offer home loans in the state. We compared a sampling of mortgage rates from the state's biggest lenders to see how much you might benefit by shopping around.

Column graph comparing 30-year mortgage rates at major Colorado banks

While individual results may vary, we did see a range of 30-year mortgage rates from Colorado banks. While most banks matched each other closely, the highest and lowest mortgage rates were 37.5 basis points apart. This suggests that Coloradans should be aggressive about requesting and comparing quotes from the most popular lenders. And since there's a 45-day window in which all home loan applications count as a single credit inquiry, you aren't risking your credit score by gathering quotes from multiple sources.

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

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Our analysis of mortgage rates by city found that in Colorado, location makes little difference to average mortgage rate. However, the monthly cost of a typical mortgage does vary from place to place, mostly because of changes in real estate values.

MSAAverage mortgage rateMedian home value
Denver-Aurora-Lakewood4.59%$344,276
Colorado Springs4.58%$266,427
Fort Collins4.58%$336,341
Boulder4.63%$464,096
Average rate is for a 30-year mortgage with a 20% down payment.

As the table shows, rates tend to stay the same wherever you're located. Home prices, of course, can vary dramatically. The median value of a home in Boulder was 74% higher than the median in Colorado Springs. Pricier homes require bigger loans and bigger monthly payments, even if rates remain similar. Location does play a major role in how much you spend as a homeowner, but not because of differences in mortgage rate.

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

on LendingTree's secure website. NMLS #1136: terms and conditions apply

Powered by
LendingTree is our ultimate parent company
Get Multiple Mortgage Offers at Once
Get Multiple Mortgage Offers at Once
LendingTree can help you find and compare mortgage rates, all without affecting your credit.
LendingTree is our ultimate parent company
See Offers

on LendingTree's secure website. NMLS #1136: terms and conditions apply

Powered by
LendingTree is our ultimate parent company