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Minnesota

Current Minnesota Mortgage Rates

Compare mortgage rates and closing costs for leading lenders in Minnesota. Review free, personalized mortgage rates for Minnesota 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 Minnesota. Plus, shopping lenders is free and there is no obligation.

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Mortgage Rates for Minnesota as of August 18, 2019
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Get Personalized Mortgage Quotes for Minnesota

Input your information to receive personalized mortgage quotes from preferred lenders. Comparing proposals from multiple lenders is the best way to save money on your mortgage.

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 Minnesota Mortgage Rates Compare?

August 18, 2019

The current average rate for a 30 year fixed rate mortgage in Minnesota 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
Minnesota Rates
National
Average
Comparison
30 Year Fixed Rate
A.AAA%
3.600%
15 Year Fixed Rate
B.BBB%
3.050%
5/1 Adjustable Rate Mortgage
C.CCC%
3.360%

How Affordable is Housing in Minnesota?

The median home value for Minnesota is $237,744

The median household income for Minnesota is $69,721

Based on current mortgage rates and a 10% down payment, the income required to buy the median priced home in Minnesota is $44,109

The home price you can afford to by based on household income in Minnesota is 158% of the median home value which means housing prices are average. Minnesota ranks 21 out of 50 states for housing affordability.

According to the FREEandCLEAR Housing Affordability Index, the real estate market in Minnesota is average

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Additional Mortgage Resources for Minnesota Residents

Mortgage Rates for Minnesota Cities

Anoka Mortgage Rates

Carver Mortgage Rates

Dakota Mortgage Rates

Duluth Mortgage Rates

Minneapolis Mortgage Rates

Rochester Mortgage Rates

Saint Michael Mortgage Rates

Shakopee Mortgage Rates

Sherburne Mortgage Rates

St. Cloud Mortgage Rates

St. Paul Mortgage Rates

Woodbury Mortgage Rates

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/

FREEandCLEAR Housing Affordability Index