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Compare California mortgage rates and fees from top lenders. Review free, personalized mortgage rates based on your specifc loan amount, program and other factors. Easily compare APRs, closing costs and monthly payments to find the lowest mortgage rates in California.
We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in California. Plus, shopping lenders is free and there is no obligation.
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California Mortgage Rates as of September 24, 2023
Loan terms assume conforming mortgage amount on single family residence, 80% LTV ratio and minimum borrower credit score of 740. $150,000 minimum mortgage amount. Borrower is responsible for $1,055 lender fee. Loan terms are subject to change without notice.
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Compare Today's California Mortgage Rates
September 24, 2023
Current mortgage rates in California are % for a 30 year fixed rate loan, % for a 15 year fixed loan and % for a 5/1 adjustable rate mortgage (ARM)
Mortgage Program
Today's California Rates
National Average
Comparison
30 Year Fixed Rate
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7.190%
15 Year Fixed Rate
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6.540%
5/1 Adjustable Rate Mortgage
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6.750%
How Affordable is Housing in California?
Below we offer valuable insights on the housing market and real estate prices in California. Understand how much you need to make to buy a house in California, including the mortgage you need. Review the monthy loan payment so you can determine if home ownership in California is affordable for you. We provide this helpful information to help you decide if living in California is right for you.
The median home value for California is $764,172
Based on current mortgage rates and a 10% down payment, the income required to buy the median priced home in California is $159,419
With this income, you could qualify for a $687,755 mortgage, assuming your monthly debt expense is reasonable
Based on this loan amount, the monthly mortgage payment required to buy the median priced home in California is $3,692
The median household income for California is $88,882
Based on this income, you can afford a home valued at approximately $426,058
The home price you can afford to buy based on household income in California is 56% of the median home value which means housing prices are very expensive. California ranks 49 out of 50 states for housing affordability.
According to the FREEandCLEAR Housing Affordability Index, the real estate market in California is very expensive
Additional Mortgage Resources for California Residents