10 Cheapest States for Mortgage Rates
Written by
Christina Lavingia
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| Rank | State | Average Mortgage Rate |
| No. 1 | Rhode Island | 3.395% |
| No. 2 | Connecticut | 3.413% |
| No. 3 | Nevada | 3.459% |
| No. 4 | Pennsylvania | 3.551% |
| No. 5 | Maryland | 3.593% |
| No. 6 | Massachusetts | 3.597% |
| No. 7 | Mississippi | 3.599% |
| No. 8 | Hawaii | 3.603% |
| No. 9 | Minnesota | 3.623% |
| No. 10 | New Hampshire | 3.649% |
| No. 11 | Wisconsin | 3.651% |
| No. 12 | Kansas | 3.651% |
| No. 13 | North Dakota | 3.652% |
| No. 14 | New Jersey | 3.662% |
| No. 15 | Ohio | 3.663% |
| No. 16 | District of Columbia | 3.666% |
| No. 17 | South Carolina | 3.684% |
| No. 18 | Florida | 3.690% |
| No. 19 | New York | 3.696% |
| No. 20 | Georgia | 3.708% |
| No. 21 | Idaho | 3.714% |
| No. 22 | Utah | 3.716% |
| No. 23 | Oregon | 3.718% |
| No. 24 | Alaska | 3.723% |
| No. 25 | Missouri | 3.731% |
| No. 26 | Kentucky | 3.741% |
| No. 27 | Washington | 3.747% |
| No. 28 | Louisiana | 3.751% |
| No. 29 | North Carolina | 3.767% |
| No. 30 | California | 3.772% |
| No. 31 | Delaware | 3.772% |
| No. 32 | New Mexico | 3.776% |
| No. 33 | Maine | 3.783% |
| No. 34 | Virginia | 3.785% |
| No. 35 | Illinois | 3.785% |
| No. 36 | Michigian | 3.786% |
| No. 37 | Alabama | 3.796% |
| No. 38 | Texas | 3.811% |
| No. 39 | Colorado | 3.814% |
| No. 40 | Arkansas | 3.823% |
| No. 41 | Tennessee | 3.843% |
| No. 42 | Iowa | 3.853% |
| No. 43 | West Virginia | 3.854% |
| No. 44 | Indiana | 3.858% |
| No. 45 | Montana | 3.938% |
| No. 46 | Arizona | 3.954% |
| No. 47 | Oklahoma | 4.019% |
| No. 48 | Vermont | 4.020% |
| No. 49 | Wyoming | 4.059% |
| No. 50 | South Dakota | 4.066% |
| No. 51 | Nebraska | 4.102% |
Note: There were no ties; due to rounding, some numbers were the same at three decimals.
Methodology
GOBankingRates surveyed mortgage rates for all 50 states and the District of Columbia, using data from RateWatch. The study looked at all 15-year fixed, 30-year fixed and five-year adjustable-rate terms in the database — more than 102,000 mortgage products — to find the weighted average for each state and D.C. Data was pulled July 3, 2014.
