»
Tennessee

Current Tennessee Mortgage Rates

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

%
Mortgage Rates for Tennessee as of November 11, 2019
  • Lender
  • APR
  • Loan Type
  • Rate
  • Payment
  • Fees
  • Contact

%
Get Personalized Mortgage Quotes for Tennessee

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 Tennessee Mortgage Rates Compare?

November 11, 2019

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

The median home value for Tennessee is $192,112

The median household income for Tennessee is $51,785

Based on current mortgage rates and a 10% down payment, the income required to buy the median priced home in Tennessee is $35,643

The home price you can afford to buy based on household income in Tennessee is 145% of the median home value which means housing prices are average. Tennessee ranks 28 out of 50 states for housing affordability.

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

orange-simple-house
ruler

Additional Mortgage Resources for Tennessee Residents

Mortgage Rates for Tennessee Cities

Blountville Mortgage Rates

Chattanooga Mortgage Rates

Clarksville Mortgage Rates

Cleveland Mortgage Rates

Franklin Mortgage Rates

Hendersonville Mortgage Rates

Jackson Mortgage Rates

Johnson City Mortgage Rates

Knoxville Mortgage Rates

Maryville Mortgage Rates

Memphis Mortgage Rates

Mt. Juliet Mortgage Rates

Murfreesboro Mortgage Rates

Nashville Mortgage Rates

Sevier Mortgage Rates

Spring Hill 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