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Baton Rouge

Current Mortgage Rates in Baton Rouge, Louisiana

Compare mortgage rates and fees for leading lenders in Baton Rouge, LA. 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 lender offering the best mortgage rates in Baton Rouge.

We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in Baton Rouge. Plus, shopping lenders is free and there is no obligation.

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Mortgage Rates in Baton Rouge, LA as of October 23, 2019
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Data provided by Informa Research Services. Payments do not include amounts for taxes and insurance premiums. Click for more information on rates and product details.

How Do Today's Baton Rouge, LA Mortgage Rates Compare?

October 23, 2019

The current average rate for a 30 year fixed rate mortgage in Baton Rouge 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%

Mortgage Program
Today's
Baton Rouge, LA Rates
National
Average
Comparison
30 Year Fixed Rate
A.AAA%
3.690%
15 Year Fixed Rate
B.BBB%
3.150%
5/1 Adjustable Rate Mortgage
C.CCC%
3.350%

How Affordable is Housing in Baton Rouge, Louisiana?

The median home value for Baton Rouge, LA (East Baton Rouge County) is $199,613

The median household income for Baton Rouge, LA (East Baton Rouge County) is $53,008

Based on current mortgage rates and a 10% down payment, you need to make $37,034 per year to buy the median priced home in Baton Rouge

The home price you can afford to buy based on household income in Baton Rouge is 143% of the median home value which means housing prices are average

Baton Rouge (East Baton Rouge County) ranks 59 out of 64 counties in Louisiana and 2,629 out of 3,142 counties in the United States for housing affordability.

According to the FREEandCLEAR Housing Affordability Index, the housing market in Baton Rouge, LA is average

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Loan Limits for Baton Rouge, Louisiana

Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Baton Rouge (East Baton Rouge County) below.

Conforming loan limits for Baton Rouge, LA

1 unit: $484,350
2 units: $620,200
3 units: $749,650
4 units: $931,600

FHA loan limits for Baton Rouge, LA

1 unit: $314,827
2 units: $403,125
3 units: $487,250
4 units: $605,525

VA loan limits for Baton Rouge, LA

1 unit: $484,350

Additional Mortgage Resources for Baton Rouge, LA Residents

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Sources

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/

Conforming Loan Limits: https://www.fhfa.gov/DataTools/Downloads/Pages/Conforming-Loan-Limits.aspx

FHA Loan Limits: https://entp.hud.gov/idapp/html/hicostlook.cfm

VA Loan Limits: https://www.benefits.va.gov/homeloans/purchaseco_loan_limits.asp

FREEandCLEAR Housing Affordability Index