By clicking "See Offers" you'll be directed to our ultimate parent company, LendingTree. Based on your creditworthiness you may be matched with up to five different lenders.

Oklahoma Mortgage Rates for April 2019

In Oklahoma, the average 30-year fixed-rate mortgage rate is 4.49%. 15-year fixed-rate mortgages currently average 4.08%, and 5/1 adjustable-rate mortgages (ARM) have an average rate of 4.10%.

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

For most homebuyers, getting a mortgage is an essential step in becoming a homeowner. With hundreds of thousands of dollars in the balance, finding an affordable interest rate is key to ensuring your financial stability. We've taken a deeper look at mortgage rates in the Sooner State to help you find the right home loan for your situation.

Best Mortgage Rates in Oklahoma

The best rate available on a 30-year mortgage in Oklahoma today is 3.75%. Rates usually go lower for other loan types, with 15-year mortgages at a low of 3.25% and 5/1 ARM loans going down to 2.88% in the initial five-year period.

With a spread of 150 basis points separating the lowest and highest 30-year mortgage rate, Oklahomans have a good opportunity to save by comparing multiple mortgage lenders. The difference of a few percentage points might seem insignificant, but can lead to thousands of dollars saved or spent over the long course of a mortgage.

Current Mortgage Rate Forecast for Oklahoma

For the time being, Oklahoma will see mortgage rates remain more or less the same. We base this prediction on an analysis of news surrounding the Federal Open Market Committee (FOMC), which sets policies to raise or lower rates throughout the U.S. economy. The FOMC announced in January 2019 that it would delay raising rates in 2019, as many experts predicted in 2018.

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

While strong economic growth in the United States has prompted fears of an anti-inflationary rate increase from the Fed, this latest development means that the federal funds rate will remain within the target range of 2.25%-2.50%. While there isn't a perfect correlation between the federal funds rate and average mortgage rates, the two tend to move together when viewed in the long term.

Besides watching interest rate trends, mortgage applicants in Oklahoma also need to think about the many other considerations that impact a loan scenario. Credit scores, savings, and family needs all play a major part in the decision to become a homeowner. If you don't feel prepared in any of these respects, it may be a better idea to bide your time rather than jump for a slightly better rate today.

Rates at Oklahoma's Most Popular Mortgage Lenders

Oklahoma is home to hundreds of mortgage lenders, but traditional banks continue to be the largest source of home financing in the state. We gathered sample mortgage rates from five of the largest banks to see whether any are particularly advantageous for Oklahomans seeking a home loan.

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

At the time we searched for rates at Oklahoma's major banks, there wasn't much of a difference to be seen. The cost of credit tends to move on a national basis, with most lenders in the market sticking close to the average interest rate for any given type of loan. That said, you may find that lenders respond in different degrees to your particular application: for instance, some may value a higher credit score more than others. The best way to ensure you're getting a good deal is to collect multiple mortgage quotes.

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

Comparing Home Loan Rates by City

We also considered whether Oklahoma's home loan rates are affected by the location of the purchased home. To find out, we've tracked the average rate for a standard 30-year loan in each of the Sooner state's major urban areas.

MSAAverage mortgage rateMedian home value
Oklahoma City4.57%$156,699
Tulsa4.58%$150,281
Lawton4.73%$129,553
Stillwater4.62%$163,333
Average rate is for a 30-year mortgage with a 20% down payment.

For the most part, big gaps are rare among the average mortgage rate figures for Oklahoma's cities. Homebuyers should be more concerned with the changes in property price that are likely to arise when moving from place to place. Because monthly mortgage payments are a function of both your interest rate as well as your standing loan balance, location will ultimately have an indirect influence on how much mortgage interest you pay.

Evaluating Your Mortgage Options: An Example in Oklahoma City

If you're determined to find a lower mortgage rate, one easy way to do so is by changing the type of loan you apply for. While you should base this choice on your financial goals, alternative loans such as an ARM or a 15-year loan offer ways to reduce your interest expenses. We can examine this in detail by considering a hypothetical home purchase in Oklahoma City at today's rates.

If our imagined purchase costs $200,000 and we put down 20% of that cost, our initial home loan balance will be $160,000. For these conditions, an average 30-year loan in OKC will cost at least $819 per month. If we stuck with the payments for the full 30 years, the cost of interest would total $134,596. From this baseline, we can start exploring the potential savings of taking a different loan type.

For minimizing interest in a situation of permanent homeownership, nothing beats a 15-year fixed-rate mortgage. So long as you plan to pay off the full loan, the shortened term and lower average rate for a 15-year loan result in far less money spent on interest. In our example, monthly loan costs rise to $1,190 but final interest shrinks down to $54,187.

On the other hand, younger families often end up moving within a few years of settling in. For these homeowners, the short-term potential of a 5/1 ARM makes more sense. 5/1 ARM rates stay low in the initial five-year period, then begin moving with the market for the remainder of the 30-year term. So long as you settle the loan before the rate starts floating, it's possible to save on interest. In our case, the monthly cost of a 5/1 ARM would be $774. Overall interest would depend on how the rate behaves in later years.

In Oklahoma, the average 30-year fixed-rate mortgage rate is 4.49%. 15-year fixed-rate mortgages currently average 4.08%, and 5/1 adjustable-rate mortgages (ARM) have an average rate of 4.10%.

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

For most homebuyers, getting a mortgage is an essential step in becoming a homeowner. With hundreds of thousands of dollars in the balance, finding an affordable interest rate is key to ensuring your financial stability. We've taken a deeper look at mortgage rates in the Sooner State to help you find the right home loan for your situation.

The best rate available on a 30-year mortgage in Oklahoma today is 3.75%. Rates usually go lower for other loan types, with 15-year mortgages at a low of 3.25% and 5/1 ARM loans going down to 2.88% in the initial five-year period.

With a spread of 150 basis points separating the lowest and highest 30-year mortgage rate, Oklahomans have a good opportunity to save by comparing multiple mortgage lenders. The difference of a few percentage points might seem insignificant, but can lead to thousands of dollars saved or spent over the long course of a mortgage.

For the time being, Oklahoma will see mortgage rates remain more or less the same. We base this prediction on an analysis of news surrounding the Federal Open Market Committee (FOMC), which sets policies to raise or lower rates throughout the U.S. economy. The FOMC announced in January 2019 that it would delay raising rates in 2019, as many experts predicted in 2018.

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

While strong economic growth in the United States has prompted fears of an anti-inflationary rate increase from the Fed, this latest development means that the federal funds rate will remain within the target range of 2.25%-2.50%. While there isn't a perfect correlation between the federal funds rate and average mortgage rates, the two tend to move together when viewed in the long term.

Besides watching interest rate trends, mortgage applicants in Oklahoma also need to think about the many other considerations that impact a loan scenario. Credit scores, savings, and family needs all play a major part in the decision to become a homeowner. If you don't feel prepared in any of these respects, it may be a better idea to bide your time rather than jump for a slightly better rate today.

Oklahoma is home to hundreds of mortgage lenders, but traditional banks continue to be the largest source of home financing in the state. We gathered sample mortgage rates from five of the largest banks to see whether any are particularly advantageous for Oklahomans seeking a home loan.

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

At the time we searched for rates at Oklahoma's major banks, there wasn't much of a difference to be seen. The cost of credit tends to move on a national basis, with most lenders in the market sticking close to the average interest rate for any given type of loan. That said, you may find that lenders respond in different degrees to your particular application: for instance, some may value a higher credit score more than others. The best way to ensure you're getting a good deal is to collect multiple mortgage quotes.

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

We also considered whether Oklahoma's home loan rates are affected by the location of the purchased home. To find out, we've tracked the average rate for a standard 30-year loan in each of the Sooner state's major urban areas.

MSAAverage mortgage rateMedian home value
Oklahoma City4.57%$156,699
Tulsa4.58%$150,281
Lawton4.73%$129,553
Stillwater4.62%$163,333
Average rate is for a 30-year mortgage with a 20% down payment.

For the most part, big gaps are rare among the average mortgage rate figures for Oklahoma's cities. Homebuyers should be more concerned with the changes in property price that are likely to arise when moving from place to place. Because monthly mortgage payments are a function of both your interest rate as well as your standing loan balance, location will ultimately have an indirect influence on how much mortgage interest you pay.

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