Table content
## Mortgage percentages in US States as of March 5, 2025
Throughout the past nine days, the 30-year fixed-rate mortgage for buying homes has fallen by 33 basis points, averaging 6.50%, which represents the lowest point in over four months. It’s worth mentioning that the 30-year percentage had previously dropped to a two-year low of 5.89% back in September. However, it then rose to a high of 7.13% before this recent decrease.
Mortgage percentages are not consistent across the United States; they differ from state to state. This occurs because different lenders operate in different areas, and percentages can be affected by state-level factors like credit scores, average loan sizes, and regulatory differences. Furthermore, lenders themselves possess varied risk management strategies, which also influence the percentages they provide.
On Tuesday, the states displaying the highest mortgage percentages included Washington D.C., West Virginia, New Mexico, Minnesota, Oklahoma, Rhode Island, and Virginia. The average percentages in these states fluctuated from 6.55% to 6.58%.
It’s important to realize that the percentages we publish here are not directly comparable to advertised percentages you might see online. Advertised percentages are often carefully selected to appear the most attractive compared to these average percentages. These promotional percentages may involve paying points upfront or could be based on assumptions of borrowers with exceptionally high credit scores or smaller-than-typical loan amounts. The actual percentage you qualify for will depend on your personal circumstances, such as your credit score and income, and therefore may differ from the averages presented here.
On Tuesday, the states with the lowest 30-year fixed-rate mortgages for new home purchases were New York, Utah, California, New Jersey, Florida, Colorado, and North Carolina. The average percentages in these seven states ranged from 6.41% to 6.46%.
Given the notable variations in percentages among different lenders, it’s always a wise decision to shop around to secure the best mortgage options, regardless of the type of home loan you are seeking. Regularly comparing percentages is key to obtaining a favorable deal.
Employ our mortgage calculator to estimate your monthly payments under different loan scenarios.
## National Average Mortgage Percentages
## Factors Affecting Mortgage Percentage Changes
Mortgage rates represent an intricate topic, shaped by a plethora of interconnected elements occurring within the economic sphere and the housing loan industry. Here’s a simplified explanation:
* **Bond Market Sentiment:** Closely watch the debt market, notably the 10-year Treasury return. It acts as a crucial signal. When such returns go upwards, mortgage rates typically do the same.
* **Central Bank’s Strategy:** The Federal Reserve (the Fed) assumes a significant part. Their monetary approach, specifically their bond acquisitions and backing of government-backed home loans, exerts a direct influence on rates.
* **Lender Contention:** Mortgage providers constantly aim to surpass each other. The degree of competition amongst them, including diverse categories of financings, might nudge rates upwards or downwards.
Rates to hold steady” – and the monetary authority is improbable to reduce them anew in the upcoming period. With eight interest rate policy gatherings conducted yearly, we can foresee multiple declarations in 2025 verifying that rates will remain constant.
**How We Track Mortgage Rates**
The nationwide and regional medians mentioned are obtained straight from the Zillow Mortgage API, presuming a loan-to-Toncoin (TON) Value Forecast for March 26th proportion (LTV) of 80% (implying a down payment of at least 20%) and the candidate’s credit rating lies between 680–739. The rates presented represent what debtors can anticipate being provided predicated on their credentials, which may deviate from promoted introductory rates. © Zillow, Inc., 2025. Utilization is subject to Zillow’s Terms of Service.
