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California

Current California Mortgage Rates

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 January 19, 2022
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2.384% APR Rate: 2.375%
15 Yr Fixed15 Yr Fixed
Points: .250
Rate Lock: 45 days
NMLS: 357085  LICENSE: CA 00532825
Terms & Conditions
Ask about no closing cost options
APR
2.384%
Rate
2.375%
Points
.250
Rate Lock
45 days
NMLS: 357085
LICENSE: CA 00532825

Terms & Conditions
Ask about no closing cost options
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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Data provided by Brown Bag Marketing, Inc. Payments do not include amounts for taxes and insurance premiums. Read through our lender table disclaimer for more on rates and product details.
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How Do Today's California Mortgage Rates Compare?

January 19, 2022

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
%
3.450%
15 Year Fixed Rate
%
2.620%
5/1 Adjustable Rate Mortgage
%
2.570%

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 $725,544

Based on current mortgage rates and a 10% down payment, the income required to buy the median priced home in California is $118,877

With this income, you could qualify for a $652,990 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 $2,753

The median household income for California is $89,446

Based on this income, you can afford a home valued at approximately $545,912

The home price you can afford to buy based on household income in California is 75% 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

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