Wisconsin Mortgage Rates for July 2019

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For Wisconsin, the average rate for a 30-year fixed-rate mortgage is currently 4.03%. Meanwhile, 15-year fixed-rate mortgages in the state average around 3.52%, while 5/1 adjustable-rate mortgages (ARM) have an average rate of 4.01%.

Loan typeAverage rateWeekly change3-month change
30-year fixed4.03%–0.03%–0.33%
15-year fixed3.52%–0.03%–0.36%
5/1 ARM4.01%–0.02%–0.12%
Rates for a $200,000 loan with 20% down payment

For most people, getting a mortgage is the biggest financial decision they'll ever make. With hundreds of thousands of dollars at stake, it's critical to know what a good interest rate looks like as you begin looking for lenders in Wisconsin. Our analysis of today's market should give you a sense of what rates homebuyers can expect to find in the Badger State.

Best Mortgage Rates in Wisconsin

In Wisconsin, the lowest rate offered on a 30-year mortgage is currently 3.50%. If you're looking for even lower rates, 15-year mortgages go down to 3.00% while the best 5/1 ARMs are offered at 3.00%. Try using the form above if you want to see individualized rates tailored to your own details.

The mortgage rate quotes you receive will be affected by your application details, local real estate conditions, and national economic trends. For a typical 30-year mortgage in Wisconsin, possible rates cover a range of 163 basis points. The variability of rates makes it a good idea to ask for a number of quotes when you're looking for a mortgage.

Current Mortgage Rate Forecast for Wisconsin

In the next year, mortgage rates will probably not rise as high as previous forecasts predicted. This is based on the likely actions of the Federal Open Market Committee (FOMC), which periodically acts to control interest rates based on economic conditions. The FOMC's current position is to wait for additional data before deciding on further rate increases.

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

In December 2018, the FOMC voted to raise the target federal funds rate to a range of 2.25%-2.50%. However, this decision was followed by announcements in January that recent economic developments had persuaded the FOMC to wait for additional data before committing to its previous plan of further rate hikes during 2019.

While the average mortgage rate will increase at some point, the cost of credit remains cheap in relative terms. Besides this, most people find that there are factors that matter more than rate in the decision to become a homeowner. Down payment, closing costs and taxes must each be accounted for separately from mortgage rates. Beyond that, becoming a homeowner can be a significant life event. Whether rates are high or low, your personal circumstances may play a bigger role in swaying your decision.

Rates at Wisconsin's Most Popular Mortgage Lenders

While online mortgage lenders are quickly becoming a popular source of home financing across the country, most consumers still think of local banks as the first place to look for a mortgage. We examined rates from Wisconsin's largest financial institutions to see how they compare to the state average.

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

The graph above makes it clear that Wisconsin's most popular banks stick close to the state's average mortgage rate. Wherever you choose to shop for a quote, your credit score and loan details will have a bigger impact on your final rate than the bank's desire to outbid its competitors. While this doesn't justify stopping your search at the very first lender you visit, it does serve as a warning to temper your expectations when choosing a traditional bank for your home loan.

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Comparing Home Loan Rates by City

Not only do Wisconsin mortgage rates remain similar across different banks, they also stay consistent from city to city. Our comparison of 30-year mortgage rates in Wisconsin's major metro areas showed that homeowners experience the same level of interest rates everywhere.

MSAAverage mortgage rateMedian home value
Milwaukee-Waukesha-West Allis4.50%$218,457
Madison4.46%$253,365
Green Bay4.49%$171,766
Duluth4.53%$154,258
Average rate is for a 30-year mortgage with a 20% down payment.

Rates in Wisconsin's biggest cities aren't too different from one another, but real estate prices are another story. Because the monthly cost of a mortgage depends on both your interest rate and your total loan balance, this means that you can get a cheaper mortgage by choosing a more affordable location in the state. But as with lenders, you shouldn't expect to find opportunities for a rate discount by changing your address.

Evaluating Your Mortgage Options: An Example in Wisconsin

While neither provider nor location seems to make much difference to your mortgage rate in Wisconsin, there are still ways to keep your rate under control. The most direct route is to choose a loan type other than the standard 30-year mortgage, with the most popular alternatives being 15-year and 5/1 ARM loans.

To understand the potential savings, take the example of a homebuyer with a $200,000 home and a down payment of 20%. At Wisconsin's current average rate, a 30-year mortgage would cost $767 each month before taxes and insurance. After 30 full years, this homebuyer would have paid a grand total of $115,989 in mortgage interest.

However, many homeowners sell their homes and move long before 30 years pass. If you're likely to do the same, you might be able to reduce your interest rate by getting a 5/1 ARM. ARM mortgages offer a fixed rate for five years, after which they follow a variable rate that can move up or down. So long as you plan to sell before the fixed period ends, this can be a way to save on mortgage interest.

In Wisconsin, a 5/1 ARM will average at 4.01%. Applied to our $200,000 example, that's $765 per month in the first five years. After that, your rate becomes variable and changes in the economy can end up raising your expenses.

If you're in a hurry to own your home free and clear, a 15-year mortgage will minimize your mortgage spending in a different way. While the shorter repayment schedule means higher monthly costs, the final amount you spend is much lower. With the average 15-year fixed rate in Wisconsin, the home in our example will cost at least $765 every month, but the overall cost of interest would be $115,324.

For Wisconsin, the average rate for a 30-year fixed-rate mortgage is currently 4.03%. Meanwhile, 15-year fixed-rate mortgages in the state average around 3.52%, while 5/1 adjustable-rate mortgages (ARM) have an average rate of 4.01%.

Loan typeAverage rateWeekly change3-month change
30-year fixed4.03%–0.03%–0.33%
15-year fixed3.52%–0.03%–0.36%
5/1 ARM4.01%–0.02%–0.12%
Rates for a $200,000 loan with 20% down payment

For most people, getting a mortgage is the biggest financial decision they'll ever make. With hundreds of thousands of dollars at stake, it's critical to know what a good interest rate looks like as you begin looking for lenders in Wisconsin. Our analysis of today's market should give you a sense of what rates homebuyers can expect to find in the Badger State.

In Wisconsin, the lowest rate offered on a 30-year mortgage is currently 3.50%. If you're looking for even lower rates, 15-year mortgages go down to 3.00% while the best 5/1 ARMs are offered at 3.00%. Try using the form above if you want to see individualized rates tailored to your own details.

The mortgage rate quotes you receive will be affected by your application details, local real estate conditions, and national economic trends. For a typical 30-year mortgage in Wisconsin, possible rates cover a range of 163 basis points. The variability of rates makes it a good idea to ask for a number of quotes when you're looking for a mortgage.

In the next year, mortgage rates will probably not rise as high as previous forecasts predicted. This is based on the likely actions of the Federal Open Market Committee (FOMC), which periodically acts to control interest rates based on economic conditions. The FOMC's current position is to wait for additional data before deciding on further rate increases.

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

In December 2018, the FOMC voted to raise the target federal funds rate to a range of 2.25%-2.50%. However, this decision was followed by announcements in January that recent economic developments had persuaded the FOMC to wait for additional data before committing to its previous plan of further rate hikes during 2019.

While the average mortgage rate will increase at some point, the cost of credit remains cheap in relative terms. Besides this, most people find that there are factors that matter more than rate in the decision to become a homeowner. Down payment, closing costs and taxes must each be accounted for separately from mortgage rates. Beyond that, becoming a homeowner can be a significant life event. Whether rates are high or low, your personal circumstances may play a bigger role in swaying your decision.

While online mortgage lenders are quickly becoming a popular source of home financing across the country, most consumers still think of local banks as the first place to look for a mortgage. We examined rates from Wisconsin's largest financial institutions to see how they compare to the state average.

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

The graph above makes it clear that Wisconsin's most popular banks stick close to the state's average mortgage rate. Wherever you choose to shop for a quote, your credit score and loan details will have a bigger impact on your final rate than the bank's desire to outbid its competitors. While this doesn't justify stopping your search at the very first lender you visit, it does serve as a warning to temper your expectations when choosing a traditional bank for your home loan.

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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Not only do Wisconsin mortgage rates remain similar across different banks, they also stay consistent from city to city. Our comparison of 30-year mortgage rates in Wisconsin's major metro areas showed that homeowners experience the same level of interest rates everywhere.

MSAAverage mortgage rateMedian home value
Milwaukee-Waukesha-West Allis4.50%$218,457
Madison4.46%$253,365
Green Bay4.49%$171,766
Duluth4.53%$154,258
Average rate is for a 30-year mortgage with a 20% down payment.

Rates in Wisconsin's biggest cities aren't too different from one another, but real estate prices are another story. Because the monthly cost of a mortgage depends on both your interest rate and your total loan balance, this means that you can get a cheaper mortgage by choosing a more affordable location in the state. But as with lenders, you shouldn't expect to find opportunities for a rate discount by changing your address.

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