Mortgage Rates on Existing Home Loans, by State

22.5% of active U.S. first-lien mortgages carried an interest rate of 6% or more in the second quarter of 2026, up from 7.8% at the end of 2021. 19.2% still had a rate below 3%, down from 24.3% at the end of 2021. The average rate on active mortgages was 4.4%, and the average monthly payment was $2,044, compared with $1,472 at the end of 2021.

By state, the share at 6% or more was highest in Mississippi (29.4%), Oklahoma (28.8%) and Arkansas (28.4%) and lowest in Hawaii (15.1%), California (15.7%), the District of Columbia (17.8%) and Massachusetts (17.8%). The share below 3% was highest in California (27.0%), Hawaii (26.0%) and Utah (25.3%).

About 0.3% of mortgages were underwater, meaning the loan balance was more than FHFA’s estimate of the home’s current value. Florida had the highest share at 0.8%.

National, each quarter

Share of active mortgages by contract interest rate.

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QuarterBelow 3%3% to 3.99%4% to 4.99%5% to 5.99%6% or moreAverage rateAverage monthly paymentActive mortgages (millions)
2026 Q219.2%29.9%16.5%12.0%22.5%4.4%$2,04451.4
2026 Q119.3%30.1%16.6%11.8%22.2%4.4%$1,99851.9
2025 Q419.5%30.6%16.9%11.1%21.9%4.4%$1,96752.0
2025 Q319.8%31.2%17.1%10.5%21.4%4.4%$1,95152.0
2025 Q220.2%31.9%17.4%10.4%20.2%4.3%$1,91751.9
2025 Q120.5%32.6%17.6%10.3%19.0%4.3%$1,90651.8
2024 Q420.8%33.1%17.9%10.2%18.0%4.3%$1,86751.8
2024 Q321.1%33.7%18.1%9.9%17.2%4.2%$1,84051.8
2024 Q221.4%34.4%18.4%9.7%16.0%4.2%$1,81951.6
2024 Q121.8%35.1%18.7%9.8%14.5%4.1%$1,79851.5
2023 Q422.0%35.7%19.0%9.8%13.5%4.1%$1,77551.4
2023 Q322.3%36.3%19.3%9.9%12.3%4.1%$1,72951.3
2023 Q222.7%37.0%19.7%9.8%10.8%4.0%$1,70051.2
2023 Q123.1%37.8%20.0%9.6%9.5%4.0%$1,68851.0
2022 Q423.4%38.4%20.3%9.3%8.6%3.9%$1,64251.0
2022 Q323.7%39.1%20.6%9.0%7.6%3.9%$1,60650.9
2022 Q224.2%40.0%20.6%7.8%7.3%3.8%$1,56550.7
2022 Q124.6%40.6%20.3%7.0%7.5%3.8%$1,52350.7
2021 Q424.3%39.9%20.7%7.3%7.8%3.9%$1,47250.7
2021 Q322.7%39.1%22.2%7.8%8.2%3.9%$1,44950.4
2021 Q220.2%38.8%24.0%8.3%8.6%4.0%$1,42950.3
2021 Q117.8%38.0%26.2%8.9%9.1%4.1%$1,39150.3
2020 Q412.8%39.0%29.1%9.6%9.5%4.2%$1,38850.2
2020 Q38.2%39.4%32.2%10.3%9.9%4.3%$1,38050.1
2020 Q24.9%38.6%35.2%11.0%10.3%4.4%$1,36350.0
2020 Q13.7%35.9%38.0%11.7%10.7%4.4%$1,45750.0
2019 Q43.5%33.9%39.2%12.3%11.1%4.5%$1,44049.7
2019 Q33.5%32.2%40.0%12.8%11.5%4.5%$1,43349.6
2019 Q23.5%31.1%40.2%13.3%12.0%4.5%$1,43749.3
2019 Q13.5%31.5%39.2%13.4%12.4%4.5%$1,44749.1
2018 Q43.6%32.0%38.5%13.2%12.8%4.6%$1,43049.1
2018 Q33.7%32.7%38.2%12.2%13.1%4.5%$1,41049.1
2018 Q23.8%33.4%37.4%11.8%13.6%4.5%$1,39349.1
2018 Q13.9%34.0%36.4%11.5%14.1%4.5%$1,38949.1
2017 Q44.0%34.2%35.5%11.8%14.6%4.6%$1,37049.2
2017 Q34.0%33.8%34.7%12.2%15.2%4.6%$1,35749.3
2017 Q24.0%33.6%33.9%12.7%15.9%4.6%$1,34549.3
2017 Q14.1%33.6%32.8%13.1%16.5%4.6%$1,34549.3
2016 Q44.1%33.3%31.9%13.5%17.2%4.7%$1,31849.4
2016 Q33.8%31.6%32.5%14.2%17.9%4.7%$1,30849.5
2016 Q23.5%29.6%33.3%14.8%18.7%4.8%$1,30949.5
2016 Q13.4%28.0%33.5%15.4%19.6%4.8%$1,31549.6
2015 Q43.3%27.0%33.0%16.1%20.5%4.9%$1,30850.1
2015 Q33.3%26.0%32.2%16.8%21.7%4.9%$1,29050.9
2015 Q23.3%25.5%31.2%17.4%22.6%5.0%$1,27850.9
2015 Q13.2%24.2%31.0%18.2%23.4%5.0%$1,28451.1
2014 Q43.1%23.0%30.8%18.8%24.2%5.0%$1,28451.2
2014 Q33.1%22.5%29.9%19.4%25.1%5.1%$1,28251.3
2014 Q23.1%22.2%28.7%20.0%26.0%5.1%$1,27851.4
2014 Q13.1%21.9%27.5%20.5%27.0%5.2%$1,28451.5
2013 Q43.1%21.6%26.5%20.9%27.9%5.2%$1,27251.7
2013 Q33.1%21.1%25.3%21.4%29.1%5.2%$1,25852.0
2013 Q23.0%20.2%24.1%22.2%30.5%5.3%$1,24552.4
2013 Q12.4%17.5%24.2%23.7%32.3%5.4%$1,25552.6

By state, 2026 Q2

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StateBelow 3%3% to 3.99%4% to 4.99%5% to 5.99%6% or moreAverage rateAverage monthly paymentUnderwater (LTV over 100%)
Mississippi13.4%27.0%16.7%13.6%29.4%4.8%$1,4420.6%
Oklahoma12.7%26.0%18.8%13.8%28.8%4.8%$1,5670.4%
Arkansas15.1%26.5%16.7%13.3%28.4%4.7%$1,4500.5%
West Virginia12.8%26.0%18.8%14.6%27.8%4.8%$1,1890.2%
Kentucky15.7%28.4%16.2%12.0%27.7%4.7%$1,4200.2%
Alabama14.9%26.9%16.7%14.0%27.4%4.7%$1,5020.3%
Indiana15.9%29.2%16.3%11.6%27.1%4.6%$1,4270.1%
Kansas17.8%28.2%16.3%10.8%26.9%4.6%$1,6930.2%
Missouri17.1%29.1%15.6%11.4%26.8%4.6%$1,5860.1%
Tennessee16.5%26.9%16.2%13.9%26.6%4.6%$1,7350.3%
Ohio16.2%28.8%17.1%11.9%26.1%4.6%$1,5020.1%
Louisiana15.0%27.6%18.5%13.0%26.0%4.7%$1,5920.4%
South Carolina15.8%27.6%16.3%14.7%25.6%4.6%$1,6660.3%
Georgia16.6%27.8%16.3%13.8%25.4%4.6%$1,9170.4%
Florida15.6%27.5%17.7%13.9%25.3%4.6%$2,1460.8%
Michigan17.5%30.2%16.8%10.5%25.1%4.5%$1,5020.1%
New Mexico14.2%28.8%18.7%13.2%25.1%4.6%$1,5570.2%
Texas15.9%26.2%18.5%14.9%24.5%4.6%$2,0670.6%
Illinois19.1%29.6%16.5%10.4%24.4%4.5%$1,8910.1%
Maine17.3%30.0%17.2%11.5%24.0%4.5%$1,6710.1%
North Carolina17.6%28.4%15.9%14.2%23.9%4.5%$1,7790.3%
Pennsylvania17.0%29.5%18.1%11.8%23.6%4.5%$1,7040.1%
Nebraska20.2%30.3%15.1%11.5%22.9%4.4%$1,7360.1%
Delaware18.7%30.4%17.0%11.3%22.6%4.4%$1,7990.6%
Iowa21.0%29.0%15.6%11.8%22.6%4.4%$1,4990.1%
New York15.4%30.2%20.5%11.5%22.4%4.5%$2,5620.0%
Wisconsin21.5%31.4%14.5%10.4%22.2%4.3%$1,5580.0%
Wyoming20.9%29.4%14.7%12.9%22.0%4.4%$1,7280.2%
New Hampshire20.6%32.2%15.6%10.3%21.3%4.3%$2,2040.0%
South Dakota24.3%27.9%13.8%12.7%21.3%4.3%$1,7430.2%
Vermont18.9%30.8%17.6%11.3%21.3%4.4%$1,7170.1%
Rhode Island18.9%33.2%16.5%10.3%21.1%4.3%$2,1710.1%
New Jersey21.3%29.7%17.0%11.1%20.8%4.3%$2,7440.1%
Maryland21.9%30.8%15.6%11.1%20.7%4.3%$2,2860.3%
Connecticut19.3%31.6%17.7%10.7%20.6%4.3%$2,4010.0%
Arizona19.8%31.6%15.5%12.6%20.5%4.3%$1,8550.4%
Minnesota21.4%33.2%15.2%9.8%20.4%4.3%$1,9180.1%
Nevada18.7%29.7%17.2%14.1%20.3%4.4%$1,9810.1%
Virginia22.6%30.0%15.2%11.9%20.3%4.3%$2,1680.2%
Idaho21.0%32.9%13.4%12.7%19.9%4.3%$1,8270.1%
Montana19.5%33.3%15.5%11.8%19.9%4.3%$1,9110.2%
North Dakota24.5%27.8%15.2%12.6%19.9%4.3%$1,6380.1%
Alaska21.3%29.3%16.9%12.8%19.8%4.3%$2,0570.3%
Utah25.3%32.7%11.7%11.6%18.8%4.1%$2,1350.1%
Oregon21.0%35.0%15.5%9.8%18.6%4.2%$2,1110.1%
Colorado23.3%32.9%13.9%11.4%18.5%4.2%$2,4130.5%
Washington23.3%33.7%14.4%10.4%18.2%4.2%$2,5590.2%
District of Columbia22.9%32.9%16.0%10.4%17.8%4.2%$2,9960.3%
Massachusetts23.0%33.9%15.7%9.6%17.8%4.2%$2,6330.0%
California27.0%33.1%14.8%9.4%15.7%4.0%$2,7010.2%
Hawaii26.0%31.3%16.6%10.9%15.1%4.1%$2,7640.0%

What these numbers are

FHFA’s National Mortgage Database is a 1-in-20 random sample of closed-end first-lien residential mortgages reported to one of the three national credit bureaus. FHFA says investor mortgages and loans for manufactured homes are not as well represented. Shares are weighted by loan count, so each mortgage counts once regardless of size. The rate is the contract interest rate on the loan, not the current market rate for new loans. "Underwater" uses FHFA’s mark-to-market loan-to-value ratio, which estimates the current home value by applying a house price index to the value at origination. FHFA rounds values to one decimal place, so rate shares may not add to exactly 100%. Home equity lines of credit and second liens are not included.

Source

Federal Housing Finance Agency, National Mortgage Database (NMDB®) Aggregate Statistics, Outstanding Residential Mortgage Statistics, national and state quarterly files, market "All Mortgages", VALUE1 (count-weighted), released September 30, 2026, downloaded October 18, 2026. U.S. government data. Our tables are available under CC BY 4.0. Credit "My Credit Guide (mycreditguide.org)".

Steven Reynolds, "Mortgage Rates on Existing Home Loans, by State," My Credit Guide, October 18, 2026, https://mycreditguide.org/data/mortgage-rates-on-existing-loans/.

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