Compare mortgage rates and closing costs for leading lenders in Missouri. Review free, personalized mortgage rates for Missouri 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.
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August 18, 2019
The current average rate for a 30 year fixed rate mortgage in Missouri 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 Missouri is $165,613
The median household income for Missouri is $54,494
Based on current mortgage rates and a 10% down payment, the income required to buy the median priced home in Missouri is $30,726
The home price you can afford to by based on household income in Missouri is 177% of the median home value which means housing prices are affordable. Missouri ranks 13 out of 50 states for housing affordability.
According to the FREEandCLEAR Housing Affordability Index, the real estate market in Missouri 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