Compare mortgage rates and closing costs for leading lenders in Louisiana. Review free, personalized mortgage rates for Louisiana based on your specifc loan amount, program and other factors. Easily compare APRs, fees and monthly payments to find the lender offering the best mortgage terms.
We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in Louisiana. Plus, shopping lenders is free and there is no obligation.
November 13, 2019
The current average rate for a 30 year fixed rate mortgage in Louisiana is A.AAA%, the rate for a 15 year fixed rate mortgage is B.BBB% and the rate for a 5/1 adjustable rate mortgage (ARM) is C.CCC%
The median home value for Louisiana is $165,064
The median household income for Louisiana is $49,046
Based on current mortgage rates and a 10% down payment, the income required to buy the median priced home in Louisiana is $30,625
The home price you can afford to buy based on household income in Louisiana is 160% of the median home value which means housing prices are affordable. Louisiana ranks 20 out of 50 states for housing affordability.
According to the FREEandCLEAR Housing Affordability Index, the real estate market in Louisiana is affordable
US Census Bureau American Community Survey: https://www.census.gov/programs-surveys/acs
FHFA House Price Index: https://www.fhfa.gov/DataTools/Downloads/Pages/House-Price-Index-Datasets.aspx#qat
Income Growth: https://www.bls.gov
National Average Rates: http://www.freddiemac.com/pmms/
FREEandCLEAR Housing Affordability Index