Compare mortgage rates and closing costs for leading lenders in North Dakota. Review free, personalized mortgage rates for North Dakota 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 22, 2019
The current average rate for a 30 year fixed rate mortgage in North Dakota 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 North Dakota is $195,689
The median household income for North Dakota is $63,751
Based on current mortgage rates and a 10% down payment, the income required to buy the median priced home in North Dakota is $36,306
The home price you can afford to by based on household income in North Dakota is 176% of the median home value which means housing prices are affordable. North Dakota ranks 15 out of 50 states for housing affordability.
According to the FREEandCLEAR Housing Affordability Index, the real estate market in North Dakota 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