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Idaho Mortgage Rates for April 2019

In Idaho, the average rate for a 30-year mortgage is currently 4.49%. On 15-year fixed-rate mortgages, the state average is 4.08% and 4.10% for 5/1 adjustable-rate mortgages (ARM).

Loan typeAverage rateWeekly change3-month change
30-year fixed4.49%–0.03%–0.26%
15-year fixed4.08%–0.02%–0.20%
5/1 ARM4.10%–0.03%–0.11%
Rates for a $200,000 loan with 20% down payment

Finding an affordable mortgage is a key step in almost every homeowner's journey. With terms that last as long as thirty years, a good interest rate on your home loan can boost your finances for decades. To help you find affordable financing on your new property, we took a look at what mortgage lenders offer in the Gem State today.

Best Mortgage Rates in Idaho

The best rate for a 30-year mortgage in Idaho is 3.75%. Rates for 15-year mortgages can be as low as 3.25%, while rates during the initial period of a 5/1 ARM can reach 2.88%.

For 30-year fixed-rate mortgages, the lowest and highest rates available to Idahoans differ by 150 basis points. Within this margin, hundreds of lenders make competing rate offers for borrowers to choose from. The difference of a few decimal points in your final mortgage rate may translate into thousands of dollars saved or lost during your years as a homeowner.

Current Mortgage Rate Forecast for Idaho

For 2019, mortgage rates across Idaho and the rest of the nation might not rise as quickly as experts previously anticipated. The Federal Reserve's Open Market Committee (FOMC) recently announced that it would adopt a data-dependent "wait-and-see" approach when it came to future rate hikes, which could potentially signal a slower pace of rate increases than 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 federal funds target rate represents the overnight borrowing rate that banks pay for the money to fund their operations. Due to the correlation between the target federal funds rate and the interest rates offered on consumer loans and deposits, the FOMC's periodic announcements are seen as indicators of future rate trends. These trends will likely impact mortgage rates, although slight deviations may exist between mortgage rates and fed funds due to changes im consumer demand, credit considerations and incremental costs incurred during the mortgage lending process.

The news of a possible stabilization in rates creates some breathing room for homebuyers in Idaho. In times of rising rates, homebuyers often rush to secure financing before interest rates rise too high, which can result in shoppers making sub-optimal purchases. With the FOMC announcing its intent to closely monitor market conditions prior to implementing more rate hikes, homebuyers can take comfort in the knowledge that their borrowing costs are less likely to spike while they shop for a home.

Rates at Idaho's Most Popular Mortgage Lenders

Homebuyers in Idaho have no shortage of lender options, but the biggest institutions continue to play a significant role in the residential mortgage market. To give borrowers a baseline of what to expect, we gathered mortgage rates from five of the largest banks in the Gem State.

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

This one-time sample of 30-year home loan rates shows a considerable range of numbers among the state's major banks. While your personal credit history and debt profile will have a bigger effect on your quotes, choosing the right lender may help—especially if you're applying under unique circumstances that affect your creditworthiness. The numbers above illustrate the importance of contacting more than one lender before you make a decision.

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Comparing Home Loan Rates by City

Besides collecting mortgage rates from different lenders and banks, we ran a quick comparison of rates in different Idaho cities using the same loan profile. From Boise to Twin Falls, average mortgage rates stayed stable even as local real estate markets affected the price of homes.

MSAAverage mortgage rateMedian home value
Boise4.47%$216,172
Coeur d'Alene4.48%$238,800
Idaho Falls4.52%$181,806
Twin Falls4.47%$157,440
Average rate is for a 30-year mortgage with a 20% down payment.

As you might expect, property prices in Idaho change from city to city while mortgage rates move relatively little. Wherever you apply for a home loan, the cost of credit will depend upon your financial history as a borrower and broader economic trends. While the value of a home is determined by its physical location, nationwide access to mortgages in the modern economy means that you won't see as much difference in rates at a local bank and those quoted by an online lender.

Evaluating Your Mortgage Options: An Example in Boise

Other than improving your credit score or paying down other debts, the most direct way to reduce your mortgage rate is to pick a different mortgage type. Loans such as the 15-year fixed-rate mortgage and the 5/1 ARM consistently offer lower rates than a standard 30-year home loan. So long as you keep the tradeoffs in mind, these alternatives can cut down your interest expenses.

To investigate how this works, let's imagine you're purchasing a $200,000 house in Boise. If you're bringing a down payment of 20%, your balance will start at $160,000. At the average 30-year loan rate in Boise, your minimum monthly cost will be $808. Over 30 years, the total interest would be $134,596.

If you're committed to the long haul, a 15-year mortgage gets you to 100% home equity in the shortest time and for the least total interest. With only half as many payments to cover the same balance, monthly payments run higher: $1,190 in our example. However, the final amount spent on interest would be just $54,187.

Other buyers may not plan to stay for more than a few years. In such cases, the short-term benefits of a 5/1 ARM might be preferable. 5/1 ARMs have 30-year terms, but their rates stay low and fixed for the first five years. After that, the rates move alongside the index rate they're tied to. In this case, the initial monthly payment on a 5/1 ARM would be $774. But in a time of rising rates, any ARM borrowers who stay in past the initial period run the risk of increasing interest costs.

In Idaho, the average rate for a 30-year mortgage is currently 4.49%. On 15-year fixed-rate mortgages, the state average is 4.08% and 4.10% for 5/1 adjustable-rate mortgages (ARM).

Loan typeAverage rateWeekly change3-month change
30-year fixed4.49%–0.03%–0.26%
15-year fixed4.08%–0.02%–0.20%
5/1 ARM4.10%–0.03%–0.11%
Rates for a $200,000 loan with 20% down payment

Finding an affordable mortgage is a key step in almost every homeowner's journey. With terms that last as long as thirty years, a good interest rate on your home loan can boost your finances for decades. To help you find affordable financing on your new property, we took a look at what mortgage lenders offer in the Gem State today.

The best rate for a 30-year mortgage in Idaho is 3.75%. Rates for 15-year mortgages can be as low as 3.25%, while rates during the initial period of a 5/1 ARM can reach 2.88%.

For 30-year fixed-rate mortgages, the lowest and highest rates available to Idahoans differ by 150 basis points. Within this margin, hundreds of lenders make competing rate offers for borrowers to choose from. The difference of a few decimal points in your final mortgage rate may translate into thousands of dollars saved or lost during your years as a homeowner.

For 2019, mortgage rates across Idaho and the rest of the nation might not rise as quickly as experts previously anticipated. The Federal Reserve's Open Market Committee (FOMC) recently announced that it would adopt a data-dependent "wait-and-see" approach when it came to future rate hikes, which could potentially signal a slower pace of rate increases than 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 federal funds target rate represents the overnight borrowing rate that banks pay for the money to fund their operations. Due to the correlation between the target federal funds rate and the interest rates offered on consumer loans and deposits, the FOMC's periodic announcements are seen as indicators of future rate trends. These trends will likely impact mortgage rates, although slight deviations may exist between mortgage rates and fed funds due to changes im consumer demand, credit considerations and incremental costs incurred during the mortgage lending process.

The news of a possible stabilization in rates creates some breathing room for homebuyers in Idaho. In times of rising rates, homebuyers often rush to secure financing before interest rates rise too high, which can result in shoppers making sub-optimal purchases. With the FOMC announcing its intent to closely monitor market conditions prior to implementing more rate hikes, homebuyers can take comfort in the knowledge that their borrowing costs are less likely to spike while they shop for a home.

Homebuyers in Idaho have no shortage of lender options, but the biggest institutions continue to play a significant role in the residential mortgage market. To give borrowers a baseline of what to expect, we gathered mortgage rates from five of the largest banks in the Gem State.

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

This one-time sample of 30-year home loan rates shows a considerable range of numbers among the state's major banks. While your personal credit history and debt profile will have a bigger effect on your quotes, choosing the right lender may help—especially if you're applying under unique circumstances that affect your creditworthiness. The numbers above illustrate the importance of contacting more than one lender before you make a decision.

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

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Besides collecting mortgage rates from different lenders and banks, we ran a quick comparison of rates in different Idaho cities using the same loan profile. From Boise to Twin Falls, average mortgage rates stayed stable even as local real estate markets affected the price of homes.

MSAAverage mortgage rateMedian home value
Boise4.47%$216,172
Coeur d'Alene4.48%$238,800
Idaho Falls4.52%$181,806
Twin Falls4.47%$157,440
Average rate is for a 30-year mortgage with a 20% down payment.

As you might expect, property prices in Idaho change from city to city while mortgage rates move relatively little. Wherever you apply for a home loan, the cost of credit will depend upon your financial history as a borrower and broader economic trends. While the value of a home is determined by its physical location, nationwide access to mortgages in the modern economy means that you won't see as much difference in rates at a local bank and those quoted by an online lender.

Comments and Questions

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.

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