New Hampshire Mortgage Rates for June 2020

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New Hampshire's average 30-year mortgage rate is currently 3.71%. The average rate for a 15-year mortgage is 3.20%, while the average initial rate for a 5/1 adjustable rate mortgage (ARM) is 3.26%.

Loan typeAverage rateWeekly change3-month change
30-year fixed3.71%–0.07%–0.09%
15-year fixed3.20%–0.06%–0.14%
5/1 ARM3.26%–0.09%–0.13%
Rates for a $200,000 loan with 20% down payment

If you've been searching for a mortgage lender, you probably understand that the interest rate is the easiest way to compare the value of different offers. However, you may also have noticed that rates can change depending on when you look. This raises the question of when you should lock in a quoted rate. To help homeowners and homebuyers in New Hampshire, we keep track of average mortgage rates and the numbers you can expect from local lenders.

Best Mortgage Rates in New Hampshire

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New Hampshire's lowest estimate for a 30-year fixed-rate mortgage is 3.25%. 15-year mortgages currently start at 2.75%. The best initial rate estimated for a 5/1 ARM is 3.00%. These numbers are lender estimates based on a purchase price of $200,000 and a down payment of 20%.

If you've already requested mortgage quotes, you've probably noticed that the rates you see in your estimates aren't always similar to those advertised by the lenders. Quotes vary for every applicant based on credit score, income profile, and other details. While you can get better rates by improving your personal finances, there's little you can do to control how rates change in response to economic changes across the country.

With limited control over the behavior of interest rates, mortgage borrowers looking for the best possible rate have to work with what they can: strengthening their credit score, choosing the right loan type, and timing their purchase to coincide with lower rates in the market. To help you make these choices based on the right information, we looked into the current average rates for popular loan types in New Hampshire.

Current Mortgage Rate Forecast for New Hampshire

Like most interest rates, mortgage rates have fallen so far in 2019. This slight dropoff comes after last year's steady increase in rates, and is influenced in part by the policy decisions of the Federal Open Market Committee (FOMC). Through its ability to change the effective federal funds rate—the interest rate at which banks borrow money to do business—the FOMC exercises indirect influence on consumer home loan rates.

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

The FOMC's latest stance is best described as one of patient observation, with the committee announcing that it would continue to monitor economic data moving forward. The FOMC's decision to postpone its previous plans for rate increases in 2019 mean that borrowers can expect rates to remain the same or fall, depending on how things develop this year.

For New Hampshire's mortgage borrowers, the dip in interest rates may present a good opportunity to lock in a more affordable rate than possible a few months ago. However, it's important to remember that the decision to buy a house involves other factors bigger than the question of whether you can knock some percentage points off your rate. You should only opt into a home loan when you're certain you can afford both the upfront costs and the ongoing payments.

Rates at New Hampshire's Most Popular Mortgage Lenders

These days, homebuyers are more likely to find their mortgage lender online than by walking into a local office. However, banks and traditional lenders continue to serve as potential barometers for the pricing of home loans in any area. We looked at New Hampshire's largest banks to see what rates they offered and how they compared.

Column graph comparing 30-year mortgage rates at major New Hampshire banks

In our one-time survey of the state's five largest banks, we saw an overall gap of fifty basis points between the lowest and highest rate estimates for a 30-year home loan. This represents a substantial difference that would affect a monthly payment by close to $50. Still, your own results may vary depending on what each lender is willing to offer at the time. This makes it important to request multiple mortgage quotes regardless of the numbers you see online.

Comparing Home Loan Rates by City

Property values may vary a great deal depending on where you're located, but mortgage rates generally do not. We looked at both median housing value and average mortgage rate in each of New Hampshire's major metro areas to find out where exactly the numbers stood.

AreaAverage mortgage rateMedian home value
Manchester-Nashua4.49%$296,303
Lebanon4.51%$223,851
Concord4.49%$256,137
Laconia4.46%$239,633
Average rate is for a 30-year mortgage with a 20% down payment.

Given that New Hampshire is a relatively small state, we weren't surprised to find that the median value of owner-occupied homes stayed fairly similar across all metro areas. Larger states tend to experience more extreme dips and rises in average home value because they include a greater range of cities and counties. However, the consistency of mortgage rates in New Hampshire is consistent with the situation in most other states.

Very few homebuyers base their choice of location on the state of local mortgage rates, and for good reason. The nationwide availability of credit through online lenders as well as traditional institutions means that lenders should offer you competitive rates wherever they're located. However, location may come to matter if you're purchasing a unique property that requires extra attention in the appraisal process—a situation that may benefit from the expertise of a local lender.

Evaluating Your Mortgage Options: An Example in Concord

If you're trying to find ways to lower your mortgage rate quickly, it's often difficult to do so by waiting for your credit score to improve or paying off other debt. While these long-term strategies tend to have the best effect on your quotes, one alternative way to reduce your rates is to choose a loan type other than the standard 30-year mortgage.

Suppose you're buying a home in Concord that costs $200,000. Assuming you provide a down payment of 20%, a 30-year loan at New Hampshire's current average rate will lead to monthly principal and interest charges of $738. By the end of the mortgage, you pay $105,449 of lifetime interest. Either a 5/1 ARM or a 15-year mortgage can help reduce this bill, but in two very different ways.

Younger buyers may favor the ARM because it offers lower rates for a limited time in the early term. ARMs offer borrowers a low rate to start that eventually becomes a variable rate, but homeowners who sell quickly can avoid the potential for rising payments. For our example, the average initial 5/1 ARM rate of 3.26% leads to a monthly minimum of $698 during the first five years.

If you're focused on long-term ownership, a 15-year loan allows you to pay far less lifetime interest by paying off the loan more quickly and in larger installments. A 15-year fixed-rate mortgage at New Hampshire's current average would cost you at least $1,121 per month, far more than the 30-year loan. But with half as many payments in total, your lifetime interest total will fall to $41,670.

New Hampshire's average 30-year mortgage rate is currently 3.71%. The average rate for a 15-year mortgage is 3.20%, while the average initial rate for a 5/1 adjustable rate mortgage (ARM) is 3.26%.

Loan typeAverage rateWeekly change3-month change
30-year fixed3.71%–0.07%–0.09%
15-year fixed3.20%–0.06%–0.14%
5/1 ARM3.26%–0.09%–0.13%
Rates for a $200,000 loan with 20% down payment

If you've been searching for a mortgage lender, you probably understand that the interest rate is the easiest way to compare the value of different offers. However, you may also have noticed that rates can change depending on when you look. This raises the question of when you should lock in a quoted rate. To help homeowners and homebuyers in New Hampshire, we keep track of average mortgage rates and the numbers you can expect from local lenders.

See Mortgage Rate Quotes for Your Home

$
%
{"form_type":"purchase","customEventLabel":"","buttonDisclaimer":" ","style":""}

New Hampshire's lowest estimate for a 30-year fixed-rate mortgage is 3.25%. 15-year mortgages currently start at 2.75%. The best initial rate estimated for a 5/1 ARM is 3.00%. These numbers are lender estimates based on a purchase price of $200,000 and a down payment of 20%.

If you've already requested mortgage quotes, you've probably noticed that the rates you see in your estimates aren't always similar to those advertised by the lenders. Quotes vary for every applicant based on credit score, income profile, and other details. While you can get better rates by improving your personal finances, there's little you can do to control how rates change in response to economic changes across the country.

With limited control over the behavior of interest rates, mortgage borrowers looking for the best possible rate have to work with what they can: strengthening their credit score, choosing the right loan type, and timing their purchase to coincide with lower rates in the market. To help you make these choices based on the right information, we looked into the current average rates for popular loan types in New Hampshire.

Like most interest rates, mortgage rates have fallen so far in 2019. This slight dropoff comes after last year's steady increase in rates, and is influenced in part by the policy decisions of the Federal Open Market Committee (FOMC). Through its ability to change the effective federal funds rate—the interest rate at which banks borrow money to do business—the FOMC exercises indirect influence on consumer home loan rates.

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

The FOMC's latest stance is best described as one of patient observation, with the committee announcing that it would continue to monitor economic data moving forward. The FOMC's decision to postpone its previous plans for rate increases in 2019 mean that borrowers can expect rates to remain the same or fall, depending on how things develop this year.

For New Hampshire's mortgage borrowers, the dip in interest rates may present a good opportunity to lock in a more affordable rate than possible a few months ago. However, it's important to remember that the decision to buy a house involves other factors bigger than the question of whether you can knock some percentage points off your rate. You should only opt into a home loan when you're certain you can afford both the upfront costs and the ongoing payments.

These days, homebuyers are more likely to find their mortgage lender online than by walking into a local office. However, banks and traditional lenders continue to serve as potential barometers for the pricing of home loans in any area. We looked at New Hampshire's largest banks to see what rates they offered and how they compared.

Column graph comparing 30-year mortgage rates at major New Hampshire banks

In our one-time survey of the state's five largest banks, we saw an overall gap of fifty basis points between the lowest and highest rate estimates for a 30-year home loan. This represents a substantial difference that would affect a monthly payment by close to $50. Still, your own results may vary depending on what each lender is willing to offer at the time. This makes it important to request multiple mortgage quotes regardless of the numbers you see online.

Property values may vary a great deal depending on where you're located, but mortgage rates generally do not. We looked at both median housing value and average mortgage rate in each of New Hampshire's major metro areas to find out where exactly the numbers stood.

AreaAverage mortgage rateMedian home value
Manchester-Nashua4.49%$296,303
Lebanon4.51%$223,851
Concord4.49%$256,137
Laconia4.46%$239,633
Average rate is for a 30-year mortgage with a 20% down payment.

Given that New Hampshire is a relatively small state, we weren't surprised to find that the median value of owner-occupied homes stayed fairly similar across all metro areas. Larger states tend to experience more extreme dips and rises in average home value because they include a greater range of cities and counties. However, the consistency of mortgage rates in New Hampshire is consistent with the situation in most other states.

Very few homebuyers base their choice of location on the state of local mortgage rates, and for good reason. The nationwide availability of credit through online lenders as well as traditional institutions means that lenders should offer you competitive rates wherever they're located. However, location may come to matter if you're purchasing a unique property that requires extra attention in the appraisal process—a situation that may benefit from the expertise of a local lender.

Chris Moon

Chris is a Product Manager for ValuePenguin with years of experience in addressing critical questions about mortgages and homeowners insurance. He spends his time evaluating insurance providers and policy features to understand where consumers might find the most cost-effective coverage. Chris has contributed insights to the New York Times and many other publications.

Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It has not been previewed, commissioned or otherwise endorsed by any of our network partners.

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LendingTree can help you find and compare mortgage rates, all without affecting your credit.
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on LendingTree's secure website. NMLS #1136: terms and conditions apply