Explore Today's State-by-State 30-Year Mortgage Rates – November 29, 2025
Discover the latest average 30-year mortgage rates across all U.S. states with our interactive map. Find out where New York, California, and Texas offer the most affordable rates today.
Currently, New York, California, and Texas lead the nation with the most competitive 30-year mortgage rates.
Note: In observance of Thanksgiving, daily mortgage rate updates were paused on Nov. 28. Today's insights reflect Wednesday's average rates.
On Wednesday, the most affordable 30-year mortgage rates for new home purchases were found in New York, California, Texas, Florida, Oregon, North Carolina, and New Hampshire, with averages ranging from 6.48% to 6.72%.
Conversely, the highest average rates were reported in West Virginia, Wyoming, Rhode Island, Iowa, Vermont, and Nebraska, fluctuating between 6.82% and 6.87%.
Mortgage rates differ by state due to regional lender operations, variations in average credit scores, loan sizes, and local regulations. Additionally, lenders' unique risk management policies influence the rates they offer.
Given the wide variability among lenders, it’s essential to compare mortgage offers regularly to secure the best possible rate for your home loan.
Important Considerations
The rates presented here reflect averages and may differ from promotional teaser rates advertised online. Such teaser rates often require upfront points or assume ideal borrower profiles with excellent credit scores or smaller loan amounts. Your actual rate will depend on personal factors like creditworthiness and income, so it may vary from these averages.
National 30-Year Mortgage Rate Overview
Wednesday saw a slight decline of four basis points in the average 30-year mortgage rate, settling at 6.75%. While rates dropped to a two-year low of 5.89% in mid-September, they have since climbed but remain below the peak levels above 7% experienced this summer.
Use our Mortgage Calculator to estimate monthly payments tailored to various loan scenarios.
Factors Influencing Mortgage Rate Fluctuations
Mortgage rates are shaped by a complex mix of economic and industry elements, including:
- Movements in the bond market, especially 10-year Treasury yields
- The Federal Reserve’s monetary policies, particularly regarding bond purchases and government-backed mortgage funding
- Competition among mortgage lenders and across different loan products
Multiple factors often impact rates simultaneously, making it challenging to pinpoint a single cause for rate changes.
Throughout 2021, macroeconomic conditions, including the Federal Reserve's extensive bond-buying to counter pandemic-related economic challenges, helped keep mortgage rates relatively low.
Starting November 2021, the Fed began tapering these purchases, culminating in a complete stop by March 2022.
Between then and July 2023, the Fed raised the federal funds rate aggressively to combat inflation, increasing it by 5.25 percentage points over 16 months. Though the fed funds rate doesn’t directly set mortgage rates, this rapid increase contributed to a notable rise in mortgage costs.
After holding rates steady for nearly 14 months from July 2023, the Fed initiated rate cuts in September 2024, reducing the benchmark by 0.50 percentage points, followed by an additional 0.25 point cut in November, lowering the federal funds rate to 4.5%–4.75%, its lowest since March 2023.
The next Federal Reserve rate announcement is scheduled for December 18.
How We Source Mortgage Rate Data
The national and state mortgage rate averages provided are sourced via the Zillow Mortgage API, based on an 80% loan-to-value ratio (20% down payment) and a credit score range of 680–739. These figures represent realistic borrower quotes and may differ from promotional rates. © Zillow, Inc., 2024. Use is subject to Zillow Terms of Use.
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