Compare mortgage rates and closing costs for leading lenders in Pennsylvania. Review free, personalized mortgage rates for Pennsylvania 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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October 22, 2019
The current average rate for a 30 year fixed rate mortgage in Pennsylvania 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 Pennsylvania is $201,619
The median household income for Pennsylvania is $60,703
Based on current mortgage rates and a 10% down payment, the income required to buy the median priced home in Pennsylvania is $37,407
The home price you can afford to buy based on household income in Pennsylvania is 162% of the median home value which means housing prices are affordable. Pennsylvania ranks 18 out of 50 states for housing affordability.
According to the FREEandCLEAR Housing Affordability Index, the real estate market in Pennsylvania 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