California Mortgage Rates

Current Mortgage Rates in California

30-Year Fixed: 6.312%

15-Year Fixed: 5.433%

5-Year ARM: 7.489%

Mortgage rates in California have remained relatively stable in recent months. However, they are still higher than they were a year ago. In January 2023, the average 30-year fixed mortgage rate in California was 3.56%. Today, it is 6.312%.

The increase in mortgage rates has made it more expensive to buy a home in California. According to the California Association of Realtors, the median home price in California is now $825,000. This is up from $750,000 a year ago.

Despite the higher mortgage rates, there are still many buyers who are interested in purchasing homes in California. The state's strong economy and job market are attracting people from all over the country.

Conclusion

If you are planning to buy a home in California, it is important to shop around for the best mortgage rate. There are many different lenders who offer mortgages in California, so it is important to compare rates and fees before you make a decision.