Key Takeaways<\/p>\n
Mortgage rates recently hit an almost 13-month low before inching higher again, currently averaging 6.48% nationwide.<\/p>\n
The latest data show Kentucky with the lowest rates, while mortgages were priciest in Hawaii. Our map shows the average in every state.<\/p>\n
Because rate timing is tough to predict, buyers are often better off purchasing when they\u2019re ready and the right home comes along.<\/p>\n
While mortgage rates<\/a> generally move in the same direction nationwide, some states average slightly higher or lower than others. The states with the lowest 30-year fixed mortgage rates are currently Kentucky, New York, North Carolina, Louisiana, California, and New Jersey\u2014ranging from 6.36% to 6.41%.\n<\/p>\n At the other end of the list, today’s five highest-rate states are Hawaii, Nevada, Massachusetts, Utah, and New Mexico, all between 6.57% and 6.60%.<\/p>\n<\/p>\n Mortgage rates vary slightly from one state to another based on factors such as lender competition, borrower credit profiles, average loan size, and local regulations. Mortgage lenders<\/a> also manage risk differently across markets, which can nudge averages up or down from state to state.\n<\/p>\n But as you can see, the overall range is narrow\u2014only about a quarter of a percentage point from lowest to highest.\n<\/p>\n Why This Matters to You<\/p>\n Even though mortgage rates remain higher than many buyers would like, they\u2019re still near their lowest levels in more than a year<\/a>. If you\u2019re house hunting, you\u2019re often better off moving forward when you\u2019re financially ready and the right home comes along, rather than waiting for the \u201cperfect\u201d rate.<\/p>\n What Today\u2019s Mortgage Rate Picture Looks Like <\/p>\n The national average for 30-year fixed mortgages<\/a> is 6.48%\u2014about an eighth of a point higher than 10 days ago, when rates hit an almost 13-month low of 6.35%. Even so, they remain close to their lowest levels since 2024.\n<\/p>\n Some buyers may have expected mortgage rates to fall after the Federal Reserve<\/a> cut its benchmark rate at the end of October. But instead, rates edged higher. That’s because the Fed\u2019s short-term rate doesn\u2019t directly influence long-term mortgage rates, which take more of their cues from the 10-year Treasury yield<\/a>, inflation trends, and other broad economic factors.\n<\/p>\n<\/p>\n Important<\/p>\n The rates shown here are averages and won\u2019t match the teaser offers often advertised online. Those advertised rates are usually cherry-picked to look most attractive and may assume points paid upfront or a borrower with exceptional credit and a smaller-than-average loan. Your actual rate will depend on factors like credit score, income, and loan size, so it may differ from the averages shown here.<\/p>\n Hoping to Buy a Home? Don’t Wait for the Perfect Rate <\/p>\n If you’re wondering whether to act now or wait for lower rates to buy a new home, most forecasts point to only modest relief ahead. Fannie Mae and other major outlooks see 30-year mortgage rates holding in the mid-6% range through the end of this year, with gradual declines possible\u2014but not guaranteed\u2014in 2026.\n<\/p>\n Even if rates drop in the next few weeks or months, the change may not be big enough to outweigh the risk of missing out on the right home. What matters most is being financially ready\u2014with manageable debt, steady income, and enough saved for a down payment<\/a>\u2014so you can move when the right opportunity comes along.\n<\/p>\n Waiting for a perfect rate could mean sitting out a good buying window. Acting when you\u2019re ready\u2014and when a home fits your needs and budget\u2014can be the smarter move. Remember: you can always refinance if rates fall in the future<\/a>.\n<\/p>\n How We Track the Best Mortgage Rates <\/p>\n