What does this rate on existing mortgages ranking show?

It orders states by Average rate on outstanding mortgages. It is a comparison of this one published measure, not an overall ranking of where to live.

Where do these figures come from?

FHFA National Mortgage Database supplies this measure. States without a comparable published value are shown as not ranked rather than estimated.

How should I use this ranking?

Use it to narrow a search, then open a state or county profile for the underlying figures, source dates and caveats. A statewide number may not describe every neighbourhood.

Rankings · Housing

Lowest rate on existing mortgages by state

Average rate on outstanding mortgages.

Average original contract interest rate among active, closed-end first-lien mortgages, weighted by the number of loans. It describes the mortgages borrowers already hold in each state—not today's advertised rate, a quote for a new loan, an adjustable-rate reset, or a county estimate. The supporting bands show the share of active mortgages in each original-rate range. FHFA National Mortgage Database (NMDB), quarterly.

How to read this ranking

California has the lowest published rate on existing mortgages in this comparison, at 4.0%. The next states shown are Hawaii (4.1%) and Massachusetts (4.1%).

The table orders 51 states by average rate on outstanding mortgages. It describes one published measure, not an overall judgment about where to live.

Use the result as a starting point, then compare the underlying source, dates, and local county figures before making a decision. Average original contract interest rate among active, closed-end first-lien mortgages, weighted by the number of loans. It describes the mortgages borrowers already hold in each state—not today's advertised rate, a quote for a new loan, an adjustable-rate reset, or a county estimate. The supporting bands show the share of active mortgages in each original-rate range. FHFA National Mortgage Database (NMDB), quarterly.

1California4.0%
2Hawaii4.1%
3Massachusetts4.1%
4Utah4.1%
5Washington4.1%
6Colorado4.2%
7District of Columbia4.2%
8Idaho4.2%
9Minnesota4.2%
10North Dakota4.2%
11Oregon4.2%
12Alaska4.3%
13Arizona4.3%
14Connecticut4.3%
15Maryland4.3%
16Montana4.3%
17New Hampshire4.3%
18New Jersey4.3%
19Rhode Island4.3%
20South Dakota4.3%
21Virginia4.3%
22Wisconsin4.3%
23Wyoming4.3%
24Delaware4.4%
25Iowa4.4%
26Illinois4.4%
27Nebraska4.4%
28Nevada4.4%
29Vermont4.4%
30Kansas4.5%
31Maine4.5%
32Michigan4.5%
33Missouri4.5%
34North Carolina4.5%
35New York4.5%
36Pennsylvania4.5%
37Florida4.6%
38Georgia4.6%
39Indiana4.6%
40Kentucky4.6%
41New Mexico4.6%
42Ohio4.6%
43South Carolina4.6%
44Tennessee4.6%
45Texas4.6%
46Alabama4.7%
47Arkansas4.7%
48Louisiana4.7%
49Oklahoma4.7%
50Mississippi4.8%
51West Virginia4.8%

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Frequently asked questions

What does this ranking show?: It orders states by Average rate on outstanding mortgages. It is one measure, not an overall verdict on where to live.
Where do the figures come from?: FHFA National Mortgage Database. States without a comparable published figure are listed as not ranked rather than estimated.
How should I use it?: Use it to narrow your search, then open a state or county profile for the source date, caveats and local context.

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Source: FHFA National Mortgage Database. · How this is built

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