Data Notice: Pricing and statistical data cited in this article draw on current data at writing and may include approximations. Check official sources for current data.

Mortgage Rates by State: Live Comparison

How We Evaluated: Our editorial team researched Mortgage Rates by State using daily rate aggregation from major lenders, Freddie Mac survey data, and state-level comparisons. Rankings reflect APR accuracy, lender variety, fee transparency, and rate update frequency. Last updated: March 2026. See our editorial policy for full methodology.

Mortgage rates vary by state more than most people realize — up to 0.50% difference between the cheapest and most expensive states. On a $400,000 mortgage, that 0.50% costs or saves $40,000 over 30 years. Here’s where rates stand and why they differ.

Current Average Rates by State (March 2026)

Note: Rates change daily. These are indicative averages for a 30-year fixed, 740+ credit score, 20% down.

States with Lowest Average Rates

State	30-Year Fixed	15-Year Fixed	Why Lower
California	6.45%	5.65%	High competition among lenders, large market
Washington	6.48%	5.68%	Tech sector demand drives lender competition
Colorado	6.50%	5.70%	Strong buyer market, many lender options
Virginia	6.50%	5.70%	Government/military market, VA loan competition
Texas	6.52%	5.72%	Large market, strong lender competition

States with Highest Average Rates

State	30-Year Fixed	15-Year Fixed	Why Higher
New York	6.95%	6.15%	High regulatory costs, mortgage recording tax
Alaska	6.90%	6.10%	Small market, fewer lenders
Hawaii	6.88%	6.08%	Small market, high property costs
West Virginia	6.85%	6.05%	Lower competition, rural market
Vermont	6.82%	6.02%	Small market, fewer lender options

Why Rates Differ by State

Lender competition: States with more lenders (CA, TX, FL) have lower rates because lenders compete for your business
Regulatory costs: State-specific regulations, transfer taxes, and recording fees affect lender costs — passed to borrowers
Default risk: States with higher foreclosure rates or judicial foreclosure processes (which take longer) carry more lender risk
Property values: Higher median home prices attract more lenders, increasing competition
Population density: Rural states have fewer lenders and less competition

How to Get the Best Rate Regardless of State

1. Improve Your Credit Score

Credit Score	Typical Rate Impact
760+	Best available rate
700-759	+0.25% above best
660-699	+0.50% above best
620-659	+1.00%+ above best

A 100-point credit score improvement saves more than moving to a cheaper state.

2. Compare at Least 3-5 Lenders

Freddie Mac research shows borrowers who get 5 quotes save an average of $3,000 over the life of the loan compared to those who only get one. Always get quotes from:

Your current bank
A credit union
An online lender (Better, Rocket, LoanDepot)
A mortgage broker (shops multiple lenders for you)

3. Consider the Full Cost, Not Just the Rate

APR vs rate: APR includes fees and points. Compare APRs across lenders for the true cost.
Points: Paying 1 point (1% of loan amount) typically lowers your rate by 0.25%. Worth it if you’ll stay 5+ years.
Closing costs: Range from 2-5% of loan amount. Some lenders offer lower rates but higher closing costs — do the breakeven math.
Lock period: Rate locks are typically 30-60 days. Longer locks may cost slightly more.

4. 30-Year vs 15-Year vs ARM

Loan Type	Best For
30-year fixed	Certainty, lower monthly payment, invest the difference
15-year fixed	Aggressive payoff, lower total interest, higher monthly payment
5/1 ARM	Planning to move within 5-7 years, comfortable with rate risk
7/1 ARM	Same as 5/1 but with more buffer time

The 15-year saves significant interest but requires a higher monthly payment. At $400K: 30-year at 6.50% = $2,528/month. 15-year at 5.70% = $3,328/month. Total interest saved with 15-year: $230,000.

Key Takeaways

Mortgage rates vary up to 0.50% between states — worth knowing but hard to control
Credit score improvement and lender shopping save more than state differences
Always compare 3-5 lenders — the savings compound over 15-30 years
Compare APR (not just rate) to capture the full cost including fees
Consider 15-year if you can afford it — the interest savings are massive

Next Steps

Mortgage Affordability Calculator to see what you can afford, or Find a Certified Financial Planner Near You for advice on how a mortgage fits your overall plan.

Information about mortgage rates by st is provided for educational purposes. This does not constitute financial advice. Seek professional guidance.

Sources

CFPB: Explore Interest Rates — accessed March 25, 2026
Freddie Mac: Primary Mortgage Market Survey — accessed March 25, 2026