Mortgage Rates in California: Today's Averages & 2026 Outlook
California 30-year fixed rates are running around 6.82% — roughly 3 bps below the national average of 6.85%. Here's how CA rates stack up, what drives the spread, and the programs that can price you lower.
Today's California rates by loan type
Estimates for California based on the current national 30-year average of 6.85% plus the state's typical spread (-3 bps). Live national rate sourced daily from Freddie Mac PMMS via our rate feed. Your actual quote will depend on your credit, down payment, and lender.
What drives California mortgage rates
National rates set the floor — Freddie Mac's weekly PMMS average is the benchmark almost every California lender starts from. But CA typically prices about 3 basis points below that national average because of three local dynamics: the mix of loan types written in the state, lender density and competition, and how expensive the state is to close in.
Loan mix. Conventional and jumbo dominate; jumbo rates often price inside conforming. The mix matters because FHA, VA, and USDA loans price differently than conventional — states with heavier government-loan share tend to show tighter buyer rates but higher fees.
Median loan size. The typical California loan is around $620,000 on a $785,000 home. That size sits at or above the conforming loan limit in higher-cost counties, where jumbo pricing kicks in.
Refi activity. Cash-out refis are common when equity is deep, even at higher rates.
What a typical California payment looks like
| Line item | Estimate |
|---|---|
| Median home price | $785,000 |
| Median loan amount (typical LTV) | $620,000 |
| 30-yr rate (state avg) | 6.82% |
| Monthly principal & interest | $4,050 |
| Est. full PITI (add ~30% for taxes/insurance) | ~$5,265 |
Directional math for California in 2026. Add property taxes, homeowners insurance, PMI (if putting less than 20% down), and any HOA dues for a full monthly cost. Our mortgage calculator lets you plug in your exact numbers.
What's unique about financing in California
What most CA borrowers use
Conventional and jumbo dominate; jumbo rates often price inside conforming.
Below-market CA rate options
CalHFA's MyHome and Dream For All programs buy down the rate for first-time buyers.
Is a refi worth it in CA?
Cash-out refis are common when equity is deep, even at higher rates.
Rate + grants + closing costs
A below-market rate is only one lever. Stack it with CA down-payment assistance and seller-paid closing costs. See CA grants → · CA closing costs →
Get matched with a California lender — free
We'll match you with vetted CA lenders competing for your loan. Compare real Loan Estimates side-by-side — the same California buyer can save $2,000–$5,000+ over the life of the loan by shopping three quotes.
California mortgage rates: FAQ
What is today's mortgage rate in California?▾
The average 30-year fixed mortgage rate in California is around 6.82% — roughly 3 bps below the current national average of 6.85%. 15-year fixed loans run about 6.07%, FHA around 6.57%, and VA around 6.47%. Your actual rate depends on credit score, down payment, loan type, and lender competition — always compare Loan Estimates from at least three lenders.
How do California mortgage rates compare to the national average?▾
California rates typically sit slightly below (about 3 bps lower than) the US 30-year average. The spread reflects local lender competition, loan mix (conventional and jumbo dominate; jumbo rates often price inside conforming.), and state-level closing-cost dynamics.
What monthly payment can I expect on a California home?▾
On the median California loan of $620,000 at 6.82% for 30 years, principal and interest run about $4,050/month — before property taxes, homeowners insurance, and (if applicable) PMI or HOA dues. Add roughly 25–35% to that P&I number to estimate a full PITI payment.
Are there special first-time homebuyer rate programs in California?▾
Yes. CalHFA's MyHome and Dream For All programs buy down the rate for first-time buyers. These state-agency programs typically pair a below-market rate with down payment assistance — worth comparing against a standard conventional loan before locking.
Should I refinance my California mortgage right now?▾
Cash-out refis are common when equity is deep, even at higher rates. The break-even math: divide your total refi closing costs by your monthly payment savings — if you'll stay in the home longer than the payback period, refinancing pays off. Our free Refi Optimizer runs the numbers for you.