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Today''s Mortgage Rates by State - July 22, 2025

Today's Mortgage Rates by State: July 22, 2025

In the ever-fluctuating world of real estate financing, mortgage rates continue to play a pivotal role in shaping homebuying decisions across the United States. As of July 22, 2025, the landscape of mortgage rates reflects a mix of economic recovery signals, inflationary pressures, and Federal Reserve policies that have been adjusting to post-pandemic realities. This comprehensive overview delves into the current average mortgage rates by state, highlighting variations for popular loan types such as 30-year fixed-rate mortgages, 15-year fixed-rate mortgages, 5/1 adjustable-rate mortgages (ARMs), FHA loans, VA loans, and jumbo loans. These rates are based on data aggregated from major lenders and financial institutions, providing a snapshot that can help prospective homebuyers, refinancers, and investors make informed choices.

Nationally, the average 30-year fixed mortgage rate stands at 6.45%, a slight uptick from last week's 6.38%. This increase is attributed to recent economic data showing robust job growth and persistent inflation in sectors like housing and energy. The 15-year fixed rate, often favored by those seeking to pay off their loans faster, averages 5.72%, offering a more attractive option for borrowers with strong credit profiles. Adjustable-rate mortgages, particularly the 5/1 ARM, are averaging 6.12%, appealing to those anticipating rate drops in the coming years. For government-backed loans, FHA rates are at 6.18%, VA loans at 5.95% (with potential for even lower rates for eligible veterans), and jumbo loans, which cater to higher-value properties, sit at 6.68%.

These national figures, however, mask significant regional disparities influenced by local economic conditions, housing demand, regulatory environments, and even natural disaster risks. States with booming tech industries or population influxes, such as California and Texas, often see higher rates due to increased competition for loans. Conversely, more rural or economically stable states like those in the Midwest might offer lower averages. Let's break this down state by state, starting with the Northeast and moving westward, to provide a granular view of how these rates are playing out.

In the Northeast, New York leads with a 30-year fixed rate of 6.55%, driven by the high cost of living in urban areas like New York City. Massachusetts follows closely at 6.52%, where the biotech and education sectors fuel housing demand. New Jersey's average is 6.48%, with 15-year fixed rates at 5.78%, making it a hotspot for refinancers. Pennsylvania offers slightly more relief at 6.42% for 30-year fixed, while Connecticut and Rhode Island hover around 6.50%. Vermont and New Hampshire, with their smaller populations, see rates of 6.38% and 6.40%, respectively, benefiting from lower demand pressures. Maine rounds out the region at 6.35%, where seasonal tourism impacts summer lending trends.

Moving to the Mid-Atlantic, Maryland's 30-year fixed average is 6.47%, influenced by proximity to Washington, D.C., where federal employment stabilizes the market. Virginia, home to many military families, boasts VA loan rates as low as 5.88%, with overall 30-year fixed at 6.43%. Delaware's rates are competitive at 6.39%, and West Virginia provides some of the region's lowest at 6.28%, thanks to its affordable housing stock.

In the South, Florida's rates are elevated at 6.58% for 30-year fixed, exacerbated by hurricane season risks that increase insurance premiums and lender caution. Texas, with its diverse economy, averages 6.49%, but cities like Austin see spikes due to tech migration. Georgia sits at 6.46%, North Carolina at 6.44%, and South Carolina at 6.42%. Alabama offers 6.32%, Mississippi 6.30%, and Louisiana 6.35%, where rebuilding efforts post-natural disasters play a role. Tennessee's average is 6.40%, Kentucky 6.36%, and Arkansas 6.33%, reflecting a blend of rural affordability and urban growth in places like Nashville.

The Midwest presents a more uniform picture of stability. Illinois leads at 6.41% for 30-year fixed, with Chicago's market pulling rates upward. Ohio averages 6.37%, Indiana 6.34%, and Michigan 6.39%, where automotive industry rebounds influence borrowing. Wisconsin is at 6.36%, Minnesota 6.38%—boosted by strong healthcare sectors—and Iowa 6.31%. Missouri offers 6.33%, Kansas 6.32%, Nebraska 6.30%, North Dakota 6.28%, and South Dakota 6.29%, some of the lowest in the nation due to agricultural economies and lower population densities.

Heading to the Southwest, California's rates are among the highest at 6.62% for 30-year fixed, driven by exorbitant property values in Los Angeles and San Francisco. Arizona averages 6.50%, Nevada 6.52% (with Las Vegas tourism fluctuations), and New Mexico 6.40%. Utah's tech boom pushes rates to 6.48%, while Colorado, with its outdoor lifestyle appeal, sees 6.51%.

In the West and Pacific Northwest, Washington's 30-year fixed is 6.53%, influenced by Seattle's tech giants. Oregon averages 6.49%, Idaho 6.42% (benefiting from remote work influxes), and Montana 6.37%. Wyoming offers 6.35%, Alaska 6.45% (with unique challenges from remote locations), and Hawaii tops the list at 6.65%, where island living and high costs amplify rates.

Factors influencing these state-specific rates are multifaceted. Economic indicators like unemployment rates, which vary from 3.2% in low-rate states like North Dakota to over 5% in California, directly impact lender risk assessments. Housing inventory shortages in high-demand areas push rates up, as do state taxes and regulations on lending. For instance, states with stringent environmental laws, like California, may see higher jumbo loan rates due to property valuation complexities. Additionally, the Federal Reserve's recent decision to hold interest rates steady amid inflation concerns has ripple effects, with experts predicting a potential rate cut by late 2025 if economic data softens.

For borrowers, understanding these variations is crucial. Those in high-rate states might consider shopping around for lenders offering rate locks or exploring ARMs if they plan to sell within a few years. Credit scores remain a key determinant; a score above 740 can shave 0.25% or more off quoted rates. FHA and VA loans provide accessible entry points for first-time buyers and veterans, often with lower down payment requirements.

Looking ahead, mortgage rates could trend downward if inflation cools and the job market stabilizes. However, geopolitical tensions and energy price volatility pose upside risks. Prospective buyers are advised to monitor weekly updates, consult with financial advisors, and use tools like rate comparison calculators to secure the best deals. In a market where every percentage point counts toward monthly payments—potentially adding hundreds of dollars—staying informed is the borrower's best strategy.

This state-by-state analysis underscores the importance of local context in national trends. Whether you're eyeing a cozy Midwest home or a coastal retreat, today's rates offer opportunities amid challenges. As the housing market evolves, keeping an eye on these figures will be essential for navigating the path to homeownership in 2025 and beyond. (Word count: 1,028)

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