Mortgage Rates in Madison, WI: Today's Averages & 2026 Outlook
Madison 30-year fixed rates are running around 6.87% — roughly 2 bps above the national average of 6.85%. Here's how Madison rates stack up, what drives the metro spread, and the payment math on a typical Madison home.
Today's Madison rates by loan type
Estimates for Madison based on the current national 30-year average of 6.85% plus the metro's typical spread (+2 bps). Live national rate sourced daily from Freddie Mac PMMS. Your actual quote will depend on your credit, down payment, and lender.
What drives Madison mortgage rates
The national 30-year average sets the floor for every Madison lender. But the $Madison metro typically prices about 2 basis points above that national benchmark because of local dynamics.
Local market read. State-capital and university anchored; inventory-constrained.
Who's lending. Regional banks and credit unions hold strong share.
Median deal size. A typical Madison loan is around $380,000 on a $425,000 home. That sits well inside conforming loan limits, so most Madison buyers get standard agency pricing.
What a typical Madison payment looks like
| Line item | Estimate |
|---|---|
| Median home price (Madison) | $425,000 |
| Median loan amount | $380,000 |
| 30-yr rate (Madison avg) | 6.87% |
| Monthly principal & interest | $2,495 |
| Est. full PITI (add ~30% for taxes/insurance) | ~$3,244 |
Directional math for Madison in 2026. Add property taxes, homeowners insurance, PMI (if less than 20% down), and any HOA dues for full monthly cost. Our mortgage calculator lets you plug in your exact numbers.
More on buying in Wisconsin
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Madison mortgage rates: FAQ
What is today's mortgage rate in Madison, WI?▾
The average 30-year fixed mortgage rate in Madison is around 6.87% — 15-year fixed near 6.12%, FHA around 6.62%, VA around 6.52%. That's roughly 2 bps above the current US 30-year average of 6.85%. 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 Madison mortgage rates compare to the national average?▾
Madison rates typically sit slightly above (about 2 bps higher than) the US 30-year average. The metro spread reflects local lender competition, loan mix, and property-tax/insurance dynamics specific to the Madison area.
What's the median home price in Madison?▾
The median home price in the Madison metro is about $425,000, with a typical loan amount of $380,000 at conventional LTVs. At today's 6.87% rate, principal and interest on that loan runs about $2,495/month — before property taxes, homeowners insurance, and (if applicable) PMI or HOA dues.
Who are the top lenders in Madison?▾
Regional banks and credit unions hold strong share. You'll get the best rate by comparing at least three Loan Estimates — a mix of a national non-bank lender, a local credit union, and (for higher loan amounts) a portfolio bank tends to reveal the best pricing for your specific profile.
Should I lock my rate now or wait in Madison?▾
State-capital and university anchored; inventory-constrained. On rate timing itself, no one can call the exact peak or trough — but if the payment on your target Madison home works today at 6.87%, locking and refinancing later if rates fall is a well-worn playbook. Our Right-Time-to-Buy tool models the wait-vs-buy math for you.