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Mississippi

Current Mississippi Mortgage Rates

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

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Mortgage Rates for Mississippi as of December 11, 2019
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Get Personalized Mortgage Quotes for Mississippi

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 Mississippi Mortgage Rates Compare?

December 11, 2019

The current average rate for a 30 year fixed rate mortgage in Mississippi 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
Mississippi 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 Mississippi?

The median home value for Mississippi is $123,701

The median household income for Mississippi is $44,383

Based on current mortgage rates and a 10% down payment, the income required to buy the median priced home in Mississippi is $22,950

The home price you can afford to buy based on household income in Mississippi is 193% of the median home value which means housing prices are super affordable. Mississippi ranks 6 out of 50 states for housing affordability.

According to the FREEandCLEAR Housing Affordability Index, the real estate market in Mississippi is super affordable

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Additional Mortgage Resources for Mississippi Residents

Mortgage Rates for Mississippi Cities

Gulfport Mortgage Rates

Jackson Mortgage Rates

Madison Mortgage Rates

Pascagoula Mortgage Rates

Rankin Mortgage Rates

Southaven Mortgage Rates

Tupelo 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