Mortgage Rates in Montana: Today's Averages & 2026 Outlook
Montana 30-year fixed rates are running around 6.89% — roughly 4 bps above the national average of 6.85%. Here's how MT rates stack up, what drives the spread, and the programs that can price you lower.
Today's Montana rates by loan type
Estimates for Montana based on the current national 30-year average of 6.85% plus the state's typical spread (+4 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 Montana mortgage rates
National rates set the floor — Freddie Mac's weekly PMMS average is the benchmark almost every Montana lender starts from. But MT typically prices about 4 basis points above 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 dominant; USDA share strong in rural counties. 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 Montana loan is around $395,000 on a $445,000 home. That size sits well inside conforming loan limits, so most MT buyers get standard agency pricing.
Refi activity. Refi share is small — recent price-inflated buyers are the primary refi pool.
What a typical Montana payment looks like
| Line item | Estimate |
|---|---|
| Median home price | $445,000 |
| Median loan amount (typical LTV) | $395,000 |
| 30-yr rate (state avg) | 6.89% |
| Monthly principal & interest | $2,599 |
| Est. full PITI (add ~30% for taxes/insurance) | ~$3,379 |
Directional math for Montana 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 Montana
What most MT borrowers use
Conventional dominant; USDA share strong in rural counties.
Below-market MT rate options
Montana Housing Regular Bond loan offers a competitive fixed rate plus DPA options.
Is a refi worth it in MT?
Refi share is small — recent price-inflated buyers are the primary refi pool.
Rate + grants + closing costs
A below-market rate is only one lever. Stack it with MT down-payment assistance and seller-paid closing costs. See MT grants → · MT closing costs →
Get matched with a Montana lender — free
We'll match you with vetted MT lenders competing for your loan. Compare real Loan Estimates side-by-side — the same Montana buyer can save $2,000–$5,000+ over the life of the loan by shopping three quotes.
Montana mortgage rates: FAQ
What is today's mortgage rate in Montana?▾
The average 30-year fixed mortgage rate in Montana is around 6.89% — roughly 4 bps above the current national average of 6.85%. 15-year fixed loans run about 6.14%, FHA around 6.64%, and VA around 6.54%. 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 Montana mortgage rates compare to the national average?▾
Montana rates typically sit slightly above (about 4 bps higher than) the US 30-year average. The spread reflects local lender competition, loan mix (conventional dominant; usda share strong in rural counties.), and state-level closing-cost dynamics.
What monthly payment can I expect on a Montana home?▾
On the median Montana loan of $395,000 at 6.89% for 30 years, principal and interest run about $2,599/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 Montana?▾
Yes. Montana Housing Regular Bond loan offers a competitive fixed rate plus DPA options. 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 Montana mortgage right now?▾
Refi share is small — recent price-inflated buyers are the primary refi pool. 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.