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Nevada Mortgage Rates for April 2019

In Nevada, the average rate for a 30-year mortgage is currently 4.41%. The average for 15-year mortgages is at 3.86%, and the average rate of 5/1 adjustable-rate mortgages (ARM) is 4.02%.

Loan typeAverage rateWeekly change3-month change
30-year fixed4.41%–0.03%–0.23%
15-year fixed3.86%–0.01%–0.26%
5/1 ARM4.02%+0.00%–0.10%
Rates for a $200,000 loan with 20% down payment

In most cases, getting a mortgage is an essential step on the path towards homeownership. Few people find it possible or even sensible to pay the entire cost of a house upfront, so getting financing at a reasonable rate is important. In Nevada, we looked at mortgage rates across lenders, loan types, and locations to determine how borrowers can minimize their costs.

Best Mortgage Rates in Nevada

According to our data, the best rate currently published for a 30-year mortgage in Nevada is 3.75%. 15-year fixed rates go as low as 3.25%, while 5/1 ARM rates reach 2.88%.

When setting mortgage rates for an individual applicant, lenders look at many factors that include not only your personal credit history and income information but also the lender's business needs and the level of competition in the market. This means that it's possible to receive significantly different quotes depending on when and where you apply for a home loan. On top of this, your choice of loan type will also impact the base interest rate.

To give you a more detailed picture of how these different variables can affect mortgage rates, we collected rate information from dozens of lenders and locations in Nevada. Knowing what to expect in the market should help you better evaluate the quotes that you're offered. We've also provided a brief summary of how mortgage rates are expected to change in the next year.

Current Mortgage Rate Forecast for Nevada

For the time being, most experts expect little change in U.S. mortgage rates. This idea is based on the actions of the Federal Open Market Committee (FOMC), which has publicly paused its plans for a steady schedule of rate hikes in the next few months. According to the FOMC, any rate changes will only resume after a "patient" period of observation and analysis.

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

Like interest rates for other consumer credit, mortgage rates are affected by changes to the federal funds rate. Upticks in the funds rate are indirectly passed on in the mortgage rates set by banks, which are themselves forced to borrow at higher rates. The FOMC's recent pullback will largely be read as a positive sign by both investors and mortgage applicants.

If you're thinking about getting a mortgage soon, recent developments suggest there's little reason to rush in based on the idea that rates will rise too quickly. The marginal cost of waiting is not high enough to justify jumping the gun on a decision that carries lifelong implications. Make sure that a mortgage makes sense for your current situation before you start comparing rates.

Rates at Nevada's Most Popular Mortgage Lenders

As prevailing interest rates change, mortgage lenders adjust their loan offers to varying degrees. For homebuyers, this presents an opportunity to save by comparing offers from several banks. We looked at estimated rates from several of Nevada's largest mortgage lenders based on a typical home price and down payment.

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

We saw a small amount of rate variation among Nevada's top home loan lenders, although this may change as the interest rate situation in the U.S. continues to shift. There was about 25 basis points of difference between the lowest and highest mortgage rates reported by the banks we looked at. While that's not as large a swing as we've seen in other states, it's still enough to reduce—or increase—your interest expenses by thousands of dollars in the long term.

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Comparing Home Loan Rates by City

We also researched how mortgage rates in Nevada differed from city to city. In comparing interest rates for homebuyers from Las Vegas to Carson City, we saw similar rates on offer from lenders throughout the Silver State. However, a similar examination of home values showed that median property costs change significantly based on where you choose to buy.

MSAAverage mortgage rateMedian home value
Las Vegas-Henderson-Paradise4.53%$258,895
Reno4.50%$328,991
Gardnerville Ranchos4.50%$336,677
Carson City4.56%$233,448
Average rate is for a 30-year mortgage with a 20% down payment.

Even with rates staying about the same, the diversity of property prices in Nevada's cities means that the cost of a mortgage will still depend on your location. With local real estate values significantly higher than the national median, homebuyers in Nevada should be mindful of minimizing their mortgage rate as a alternate way of reducing their costs.

Evaluating Your Mortgage Options: An Example in Las Vegas

While lenders may base their quoted rates on a dozen variables, there's at least one way for you to lower your rates for certain. Choosing a nonstandard loan type like the 15-year fixed rate mortgage or an adjustable-rate ARM loan guarantees that you'll receive lower rates that you would with a typical 30-year mortgage. However, you need to make sure that the loan you pick makes sense for your situation before diving in.

As an example, consider a homebuyer who is purchasing a $200,000 property near Las Vegas with a 20% down payment. At the current average, monthly costs for a 30-year mortgage will start at $814. After 30 years, the interest on this loan amounts to $132,879. Changing the mortgage type allows you to change either of these numbers to fit your own goals.

Many families choose to sell and move out long before the end of a 30-year term. In these scenarios, an ARM loan provides a discounted temporary rate at the cost of potential rate increases later on in the loan. Homeowners who plan on moving soon can take advantage of this to reduce costs and exit the loan before rates increase. If we apply current Nevada rates for a 5/1 ARM to our hypothetical purchase, it would cost $766 per month.

On the other hand, buyers settling in for the long haul might be more interested in shrinking the total cost of interest on their home loans. Right now, a 15-year fixed-rate loan in Las Vegas would cost $1,173 per month for our example, but only $51,016 in total interest. By paying more from month to month, you clear the total debt twice as fast and ultimately save thousands in interest.

The 30-year mortgage rate average in Nevada is currently 4.41%. 15-year mortgages in the state average at 3.86%, while 5/1 adjustable-rate mortgages (ARM) are offered at an average of 4.02%.

Loan typeAverage rateWeekly change3-month change
30-year fixed4.41%–0.03%–0.23%
15-year fixed3.86%–0.01%–0.26%
5/1 ARM4.02%+0.00%–0.10%
Rates for a $200,000 loan with 20% down payment

Most people find that getting a mortgage is an essential part of the homebuying experience. Rising property values make it increasingly important to get an affordable interest rate on your home loan. We looked at rate averages and lender quotes in Nevada to help you understand what the best mortgage offers should look like.

According to our data, the best rate currently published for a 30-year mortgage in Nevada is 3.75%. 15-year fixed rates go as low as 3.25%, while 5/1 ARM rates reach 2.88%.

When setting mortgage rates for an individual applicant, lenders look at many factors that include not only your personal credit history and income information but also the lender's business needs and the level of competition in the market. This means that it's possible to receive significantly different quotes depending on when and where you apply for a home loan. On top of this, your choice of loan type will also impact the base interest rate.

To give you a more detailed picture of how these different variables can affect mortgage rates, we collected rate information from dozens of lenders and locations in Nevada. Knowing what to expect in the market should help you better evaluate the quotes that you're offered. We've also provided a brief summary of how mortgage rates are expected to change in the next year.

For the time being, most experts expect little change in U.S. mortgage rates. This idea is based on the actions of the Federal Open Market Committee (FOMC), which has publicly paused its plans for a steady schedule of rate hikes in the next few months. According to the FOMC, any rate changes will only resume after a "patient" period of observation and analysis.

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

Like interest rates for other consumer credit, mortgage rates are affected by changes to the federal funds rate. Upticks in the funds rate are indirectly passed on in the mortgage rates set by banks, which are themselves forced to borrow at higher rates. The FOMC's recent pullback will largely be read as a positive sign by both investors and mortgage applicants.

If you're thinking about getting a mortgage soon, recent developments suggest there's little reason to rush in based on the idea that rates will rise too quickly. The marginal cost of waiting is not high enough to justify jumping the gun on a decision that carries lifelong implications. Make sure that a mortgage makes sense for your current situation before you start comparing rates.

As prevailing interest rates change, mortgage lenders adjust their loan offers to varying degrees. For homebuyers, this presents an opportunity to save by comparing offers from several banks. We looked at estimated rates from several of Nevada's largest mortgage lenders based on a typical home price and down payment.

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

We saw a small amount of rate variation among Nevada's top home loan lenders, although this may change as the interest rate situation in the U.S. continues to shift. There was about 25 basis points of difference between the lowest and highest mortgage rates reported by the banks we looked at. While that's not as large a swing as we've seen in other states, it's still enough to reduce—or increase—your interest expenses by thousands of dollars in the long term.

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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Comparing Home Loan Rates by City

We also researched how mortgage rates in Nevada differed from city to city. In comparing interest rates for homebuyers from Las Vegas to Carson City, we saw similar rates on offer from lenders throughout the Silver State. However, a similar examination of home values showed that median property costs change significantly based on where you choose to buy.

MSAAverage mortgage rateMedian home value
Las Vegas-Henderson-Paradise4.53%$258,895
Reno4.50%$328,991
Gardnerville Ranchos4.50%$336,677
Carson City4.56%$233,448
Average rate is for a 30-year mortgage with a 20% down payment.

Even with rates staying about the same, the diversity of property prices in Nevada's cities means that the cost of a mortgage will still depend on your location. With local real estate values significantly higher than the national median, homebuyers in Nevada should be mindful of minimizing their mortgage rate as a alternate way of reducing their costs.

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