Mortgage rates in California
30-yr fixed 7.18% · Freddie Mac PMMS, week of Nov 5, 2026 · APR benchmark 7.19% (APOR for locks from Nov 9, 2026) · Last reviewed Oct 18, 2026 by the Editorial Team
Many California counties exceed the baseline conforming limit and use high-cost loan limits.
Mortgage rates today by loan type
These are national averages. Lenders in California price off the same national market, so treat them as a benchmark: your quote depends on your credit, down payment, loan size and points. The APR benchmark folds in typical points and fees, so it shows what a prime borrower's APR looks like this week.
| Loan type | Avg rate | APR benchmarkAPOR | Source · as of | What it measures |
|---|---|---|---|---|
| 30-year fixed | 7.18% | 7.19% | Freddie Mac PMMSNov 5, 2026 | Conventional purchase loans, 20% down, strong credit; weekly survey |
| 20-year fixed | 6.66% | 6.93% | Zillow (via NerdWallet)Nov 6, 2026 | Lender-quoted average; checked by hand every two weeks |
| 15-year fixed | 6.57% | 6.67% | Freddie Mac PMMSNov 5, 2026 | Conventional purchase loans, 20% down, strong credit; weekly survey |
| 10-year fixed | 6.31% | 6.82% | Zillow (via NerdWallet)Nov 6, 2026 | Lender-quoted average; checked by hand every two weeks |
| 5-year ARM | 6.73% | 6.67% | Zillow (via NerdWallet)Nov 6, 2026 | Fixed for 5 years, then adjusts; APOR = prime ARM benchmark |
| 7-year ARM | — | 6.50% | APOR, locks from Nov 9, 2026 | No free rate series; APOR benchmark only |
| 10-year ARM | — | 6.63% | APOR, locks from Nov 9, 2026 | No free rate series; APOR benchmark only |
| FHA 30-year | 6.89% | — | Optimal Blue OBMMINov 5, 2026 | Locked FHA loans, all credit profiles; daily |
| VA 30-year | 6.71% | — | Optimal Blue OBMMINov 5, 2026 | Locked VA loans; daily |
| USDA 30-year | 6.86% | — | Optimal Blue OBMMINov 5, 2026 | Locked USDA loans; daily |
| Jumbo 30-year | 7.25% | — | Optimal Blue OBMMINov 5, 2026 | Locked loans above the conforming limit; daily |
APR benchmark = FFIEC/CFPB Average Prime Offer Rate for rate locks in the week starting Nov 9, 2026 (published in advance): a prime borrower's APR including typical points and fees. It is not a quote; your APR depends on credit, down payment and the points you pay. APOR is not published for FHA, VA, USDA or jumbo loans.
California mortgage calculator
The calculator starts from California's median list price, 20% down, the state's 0.76% effective property tax, its median insurance premium and its average closing costs. Switch to FHA or VA, change the down payment, or pick your county to set its conforming limit. For the month-by-month split of principal and interest, open the full amortization schedule. To see how California's property tax and insurance compare with every other state, try the mortgage calculator with taxes and insurance.
California vs. the U.S.
California's median list price is 73% above the U.S. median, so at the same 7.18% rate the principal and interest on a 20%-down loan runs $1,648 a month more. Five-year price growth here was the 5th-slowest of 51 jurisdictions.
| Measure | California | U.S. |
|---|---|---|
| Median list priceRealtor.com, Oct 2026 | $719,000 | $415,000 |
| Principal + interest, 20% down30-yr avg 7.18% | $3,897 | $2,249 |
| Average home-purchase loanHMDA 2025 | $710,738 | $404,828 |
| Average closing costsincl. transfer taxes | $5,962 | $4,661 |
| Median conventional rate paid2025 purchase loans | 6.62% | 6.50% |
| Mortgage approval rateHMDA 2025 | 76.3% | 76.6% |
| Home values, 1 yearFHFA index, Q2 2026 | +0.9% | +3.0% |
| Home values, 5 yearsFHFA index, Q2 2026 | +28.1% | +41.3% |
What California borrowers actually paid in 2025
This is the state-specific part. Federal HMDA records show the rate and costs on every California home-purchase loan closed in 2025. We compare like with like: 30-year fixed, first-lien, one-unit primary homes. On conventional loans, California borrowers paid 0.04 percentage points above the market benchmark at lock, the 15th-highest of all 50 states and the District of Columbia.
| 2025 purchase loans | Median rateCA · U.S. | Over benchmarkCA · U.S. | Closing costsCA · U.S. | Paid pointsshare of loans | Median downequity on refis · CA |
|---|---|---|---|---|---|
| Conventional 30-yr fixed (conforming, 20%+ down)60,769 loans | 6.62%6.50% | +0.04+0.02 | $7,570$5,476 | 50.5%53.2% | 25% |
| Jumbo 30-yr fixed (20%+ down)7,547 loans | 6.63%6.63% | +0.09+0.00 | $11,439$10,251 | 32.1%38.4% | 20% |
| FHA 30-yr fixed33,596 loans | 6.13%6.25% | +0.33+0.42 | $17,102$11,291 | 58.6%59.3% | 3.5% |
| VA 30-yr fixed13,551 loans | 6.12%6.13% | −0.46−0.36 | $8,827$6,554 | 57.1%59.3% | 0% |
| Conventional rate-and-term refinance20,279 loans | 6.38%6.38% | −0.09−0.06 | $4,331$4,390 | 34.8%45.4% | 33.5% |
Source: 2025 HMDA loan-level records (FFIEC/CFPB), medians. "Over benchmark" = rate spread, the APR minus APOR on the lock date, which removes the effect of when each loan locked. Closing costs = total loan costs on the Closing Disclosure. HMDA has no credit scores, so these are what borrowers paid, not what you will be offered. See the lenders active in California and what their borrowers paid.
California's biggest conventional lenders: what their borrowers paid
The 8 largest conventional lenders in California by 2025 purchase loans, out of 842 that made one. Each row is the median for that lender's comparable loans here: 30-year fixed, conforming, 20% or more down. A lower figure over the benchmark means cheaper pricing for the same week.
| Lender | 2025 loansshare in CA | Median rate | Over benchmark | Originationmedian | Paid pointsshare · median | Median down |
|---|---|---|---|---|---|---|
| United Wholesale Mortgage | 20,03310.4% | 6.60% | +0.05 | $3,400 | 50%$2,775 | 25% |
| Rocket Mortgage | 12,7336.6% | 6.50% | −0.01 | $2,472 | 47%$2,580 | 25% |
| Chase | 6,8013.5% | 6.50% | −0.11 | $1,749 | 61%$2,904 | 27% |
| Wells Fargo | 6,1353.2% | 6.25% | −0.25 | $1,985 | 29%$2,190 | 38.2% |
| U.S. Bank | 5,2832.7% | 6.49% | −0.08 | $1,545 | 49%$2,089 | 25.7% |
| CrossCountry Mortgage | 4,7692.5% | 6.75% | +0.26 | $2,729 | 60%$4,126 | 28.2% |
| Lennar Mortgage | 4,6312.4% | 5.13% | −1.39 | $1,835 | 81%$12,895 | 22.3% |
| The Loan Store, Inc. | 4,0982.1% | 6.50% | +0.05 | $2,225 | 42%$2,243 | 25% |
Source: 2025 HMDA loan-level records (FFIEC/CFPB), lenders with at least 30 comparable loans in California. Minimum credit scores are not shown here: conventional loans usually start at 620 (a lender floor; Fannie Mae's automated underwriting sets none), FHA 580 (500 with 10% down), VA none set by VA (lenders often 620). HMDA has no credit scores, so a lender's medians reflect its own mix of borrowers. FHA and VA lenders: California lender rankings.
How rates have moved
Weekly national averages over the past 30 days to 5 years. The 30- and 15-year lines are Freddie Mac average rates; the ARM lines are the APOR APR benchmark, because no free weekly ARM rate series exists.
- Now
- 7.18%
- Nov 5, 2026
- 1 week ago
- 7.24%
- −0.06 pts
- 1 month ago
- 7.40%
- −0.22 pts
- 1 year ago
- 6.22%
- +0.96 pts
30-year fixed: Freddie Mac PMMS (rate), weekly. National series.
What a mortgage costs in California
On a home at California's median list price of $719,000 with 20% down, the loan works out to $575,200, or about $3,897 a month in principal and interest at the 7.18% 30-year average.
What makes California different is the cost around the loan. Its 0.76% effective property-tax rate adds roughly $455 a month, and homeowners insurance — at the state's median 0.20% of home value — about $120 more, bringing the all-in estimate to $4,472. That figure is principal and interest at the 30-year average, property tax and insurance; at 20% down a conventional loan has no PMI, and HOA dues or local special assessments are not included. Your own price and down payment will move the number — work backward from your income with the affordability estimator.
Payment at the $719,000 median list price by down payment and loan type
| Loan | Rate | Monthlyall-in | Mortgage ins. | Cash to close | Income needed28% rule · yearly |
|---|---|---|---|---|---|
| Conventional, 20% downNo PMI | 7.18%Freddie Mac 30-yr avg | $4,472P&I $3,897 | — | $149,762 | $192,000 |
| Conventional, 10% downPMI est. 0.7%/yr | 7.18%Freddie Mac 30-yr avg | $5,336P&I $4,384 | $377 | $77,862 | $229,000 |
| Conventional, 5% downPMI est. 0.7%/yr | 7.18%Freddie Mac 30-yr avg | $5,601P&I $4,627 | $398 | $41,912 | $240,000 |
| Conventional, 3% downPMI est. 0.7%/yr | 7.18%Freddie Mac 30-yr avg | $5,707P&I $4,725 | $407 | $27,532 | $245,000 |
| FHA, 3.5% down1.75% upfront MIP financed + annual MIP | 6.89%OBMMI FHA avg | $5,538P&I $4,645 | $318 | $31,127 | $237,000 |
| VA, 0% down2.15% funding fee financed; no monthly MI | 6.71%OBMMI VA avg | $5,319P&I $4,744 | — | $5,962 | $228,000 |
Monthly = principal and interest + property tax (0.76% effective) + homeowners insurance (about $120/mo — California's median premium, 0.20% of home value) + mortgage insurance. HOA dues and local special assessments are not included. Cash to close = down payment + California's average closing costs ($5,962). PMI is an illustrative 0.7% a year; FHA and VA figures use HUD's MIP schedule and VA's first-use funding fee. Income needed = the gross yearly income at which the monthly figure is 28% of pay, the classic housing-cost guideline. Lenders also limit your total monthly debts as a share of income, so car, student-loan and card payments raise the income you need.
Prices, loan limits and payments in California's biggest counties
Home prices, and so the loan you need, vary more inside California than rates do. The table covers the largest county markets and the high-cost counties where the conforming limit is higher. Pick a row to load it into the calculator above.
| County | Median list priceSep 2026 · yr/yr | Avg purchase loanHMDA 2025 | Conforming limitmax price at 20% down | At 20% down | Est. paymentP&I + tax + ins. | Calculator |
|---|---|---|---|---|---|---|
| Los Angeles County15,374 homes for sale · Sep 2026 | $950,000-4.5% | $922,65542,509 loans | $1,249,125$1,561,406 | Conforming$760,000 loan | $5,909at 7.18% | |
| Riverside County7,065 homes for sale · Sep 2026 | $629,000-1.6% | $527,83923,710 loans | $832,750$1,040,937 | Conforming$503,200 loan | $3,912at 7.18% | |
| San Bernardino County6,141 homes for sale · Sep 2026 | $531,944-0.1% | $469,42217,195 loans | $832,750$1,040,937 | Conforming$425,555 loan | $3,308at 7.18% | |
| San Diego County5,749 homes for sale · Sep 2026 | $888,450-6.3% | $816,02221,384 loans | $1,104,000$1,380,000 | Conforming$710,760 loan | $5,526at 7.18% | |
| Orange County4,735 homes for sale · Sep 2026 | $1,287,500-6.5% | $979,70516,222 loans | $1,249,125$1,561,406 | Conforming$1,030,000 loan | $8,008at 7.18% | |
| Sacramento County2,607 homes for sale · Sep 2026 | $531,950-2.1% | $481,98214,490 loans | $832,750$1,040,937 | Conforming$425,560 loan | $3,308at 7.18% | |
| Kern County2,443 homes for sale · Sep 2026 | $396,500-3.2% | $343,5298,417 loans | $832,750$1,040,937 | Conforming$317,200 loan | $2,466at 7.18% | |
| Contra Costa County2,056 homes for sale · Sep 2026 | $752,750-4% | $768,7278,859 loans | $1,249,125$1,561,406 | Conforming$602,200 loan | $4,682at 7.18% | |
| Santa Clara County1,987 homes for sale · Sep 2026 | $1,409,500-0.3% | $1,306,78810,713 loans | $1,249,125$1,561,406 | Conforming$1,127,600 loan | $8,766at 7.18% | |
| Alameda County1,915 homes for sale · Sep 2026 | $929,944+4.3% | $897,9449,676 loans | $1,249,125$1,561,406 | Conforming$743,955 loan | $5,784at 7.18% | |
| Ventura County1,601 homes for sale · Sep 2026 | $942,076-5.7% | $726,8775,201 loans | $1,035,000$1,293,750 | Conforming$753,661 loan | $5,859at 7.18% | |
| Fresno County1,580 homes for sale · Sep 2026 | $460,000+2.2% | $392,8407,460 loans | $832,750$1,040,937 | Conforming$368,000 loan | $2,861at 7.18% | |
| Sonoma County1,169 homes for sale · Sep 2026 | $908,500-6.8% | $688,0583,542 loans | $897,000$1,121,250 | Conforming$726,800 loan | $5,650at 7.18% |
Sources: Realtor.com county research data (median listing price, Sep 2026); FHFA 2026 one-unit conforming limits; 2025 HMDA home-purchase originations (average loan, all loan types). Payments use the 30-year average (7.18%, or the jumbo average 7.25% above the limit), California's 0.76% effective property tax and its median insurance premium (0.20% of value), both from Census ACS 2024 data; county tax rates differ. Max price at 20% down = the county limit ÷ 0.8, the highest price at which a 20%-down loan stays conforming. Homes for sale = active Realtor.com listings in the month, excluding pending sales.
What's different about buying a home in California
Rates are national, but the rules around the loan are not. These California specifics can change your payment, your closing or your protections as a borrower.
Prop 13 resets assessed value at purchase
Under Proposition 13, a California home is reassessed to market value when it changes ownership, and its assessed value then generally rises no more than 2% a year. Your tax bill is built from the value at your purchase, not the seller's older assessed value, so budget from the price you pay.
Source: boe.ca.govSupplemental tax bills follow a purchase
Buying a California home is a change in ownership that triggers a county reappraisal and supplemental tax bills, issued in addition to the regular annual bill. The first covers the month after closing through June 30; a closing from January through May generally adds a second bill for the next fiscal year.
Source: boe.ca.govFAIR Plan offers basic, limited fire coverage
The California FAIR Plan, run by all licensed property insurers, exists for homes that private insurers consider high risk. Its standard policy covers fire to the structure and contents but not liability or other perils such as burglary, so the Department of Insurance advises considering supplemental coverage.
Source: insurance.ca.govCommunity property can require both spouses' signatures
California generally treats property a married person acquires during the marriage as community property (Family Code § 760). Both spouses must generally join in any instrument that sells, conveys or encumbers community real property (§ 1102), so a lender may require a spouse who is not a borrower to sign the deed of trust.
Source: leginfo.legislature.ca.govChecked against official sources on October 18, 2026. Laws and programs change; confirm details with the agency named or a local real estate attorney.
How California buyers finance their homes
California leans conventional: 84.2% of 2025 originations were conventional loans (U.S. 78.0%), while FHA made up 10.7% and VA 5.0% — below the national 13.2% and 8.2%. Government-backed loans are still widely available; they are simply a smaller slice of what borrowers here choose.
| Loan type | Share in CA | U.S. share | Approval in CA | Avg loan in CA |
|---|---|---|---|---|
| Conventional | 84.2% | 78.0% | 75.9% | $614,214 |
| FHA | 10.7% | 13.2% | 77.8% | $503,918 |
| VA | 5.0% | 8.2% | 81.0% | $619,729 |
| USDA | 0.1% | 0.6% | 80.2% | $221,545 |
The average California home loan in 2025 was $602,407 — 71% above the U.S. average of $352,861, the 3rd-largest of 51 jurisdictions. Home purchases accounted for 55.6% of those loans (U.S. 64.2%); cash-out refinances for 22.5% (U.S. 17.1%), so owners here tapped home equity more often than most.
Source: 2025 HMDA originations, FFIEC/CFPB. Approval = originated ÷ (originated + denied).
California loan limits for 2026
17 of California's 58 counties are high-cost areas for 2026, with one-unit conforming limits above the $832,750 baseline — highest in Alameda County ($1,249,125), Contra Costa County ($1,249,125), Los Angeles County ($1,249,125). Everywhere else in the state the cap is $832,750, so the same loan amount can be conforming in one county and jumbo in the next. See the full national grid in our conforming loan limit reference, and if you are over the line, what changes with jumbo rates.
County limits: FHFA 2026 conforming loan limit list (one-unit properties; two- to four-unit limits are higher).
Cash you'll need to close in California
Average closing costs in California are about $5,962 including transfer taxes (No. 11 of 51, highest first). On a home at the median list price of $719,000:
| 20% down | 3% down | |
|---|---|---|
| Down payment | $143,800 | $21,570 |
| Average closing costs | $5,962 | $5,962 |
| Cash to close (estimate) | $149,762 | $27,532 |
Prepaid taxes and insurance are extra. Closing-cost averages by state (source: Bankrate).
Transfer taxes and recording rules in California
Counties charge a documentary transfer tax of $1.10 per $1,000 of value under Revenue and Taxation Code § 11911, and many cities add their own rate on top — charter cities such as San Francisco and Oakland charge far more. The split between buyer and seller is negotiated. Source: alpinecountyca.gov
Getting approved in California
Federal HMDA lending records show California lenders originated 572,268 home loans in 2025 and denied 177,363 applications — an approval rate near 76.3% among decisioned applications, against 76.6% nationwide. See how all 50 states compare in our mortgage approval report, and how California ranks for lender complaints (71,929 on record).
Shopping for a loan? See the most active mortgage lenders in California, ranked by federal HMDA volume.
Down-payment help in California
You rarely need 20% down. CalHFA's MyHome (up to 3.5% of the price) and Dream For All, GSFA Platinum, and city and county loans of up to $500,000 in San Francisco and $161,000 in Los Angeles. See all first-time home buyer programs in California — requirements, income limits by county and how far each covers a typical home.
California's MCC program: closed by April 2019
CalHFA's MCC program no longer takes new registrations; it only reissues existing certificates. Cities, counties and joint powers authorities issue their own with state bond allocations. Local issuers: City of Los Angeles Housing Department (LAHD) (20%). MCC status in all 50 states and DC.
Check current terms at CalHFA, see how a smaller down payment changes your number with the down-payment estimator, or compare assistance in every state.
How these numbers are measured
- Freddie Mac PMMS (30- and 15-year): a weekly average of rates offered to borrowers with 20% down and strong credit, published Thursdays; latest week Nov 5, 2026. Points are not reported.
- Optimal Blue OBMMI (FHA, VA, USDA, jumbo): daily averages of rates actually locked, across credit profiles. Points vary by loan.
- APOR (APR benchmark): FFIEC/CFPB's weekly Average Prime Offer Rate, an APR that includes typical points and fees for a prime borrower. Regulators use it to flag higher-priced loans.
- HMDA 2025 (California vs U.S.): rates, costs, points and down payments on loans that actually closed, reported by lenders to federal regulators. Updated once a year.
- Census ACS 2024 (property tax and insurance): what homeowners with a mortgage in California reported paying — the median real-estate tax divided by the median home value, and the median insurance premium as a share of value. Updated once a year.
- Interest rate vs APR: the rate sets your payment; the APR adds points and lender fees spread over the loan. Compare APRs on Loan Estimates for the same day and loan type.
Rates and APOR refresh every week; HMDA, loan limits and closing-cost averages refresh when their publishers release new data. Reviewed by our editorial team. Full sources and formulas: our methodology.
California mortgage FAQ
What is a good mortgage rate in California right now?
A 30-year fixed close to the national average of 7.18% (Freddie Mac, week of Nov 5, 2026) is a fair benchmark for a borrower with strong credit and 20% down. In 2025, California's conventional buyers paid a median 6.62%.
Quotes well above that usually reflect lower credit, a small down payment or lender credits taken in exchange for a higher rate.
Are mortgage rates higher in California than in other states?
Slightly. In 2025 HMDA records, California's median conventional 30-year rate was 6.62%, against 6.50% nationally. Against the benchmark for each loan's lock week, which counts points and fees, California loans priced 0.04 percentage points above it (the 15th-highest of all 50 states and the District of Columbia), against 0.02 above nationally.
Rates are set mainly in one national market, so your credit, down payment and loan size matter more.
What are current jumbo mortgage rates in California?
The national jumbo 30-year average is 7.25% (Optimal Blue). In 2025, California's jumbo buyers paid a median 6.63%. A loan is jumbo above the $832,750 conforming limit, or above $1,249,125 in California's highest-cost counties.
Jumbo lenders typically want 10–20% down, a 700+ credit score and 6–12 months of reserves.
Should I choose a 15-year or 30-year mortgage?
On a $575,200 loan (20% down on California's median list price), a 30-year at 7.18% costs $3,897 a month and a 15-year at 6.57% costs $5,033.
The 15-year saves about $496,879 in interest but needs $1,136 more a month, so it fits only if that payment is comfortable.
How much does a 1% difference in mortgage rates change my monthly payment?
On a $575,200 loan (20% down on California's median list price), moving from 7.18% to 8.18% raises the principal-and-interest payment from $3,897 to $4,293, or $396 a month.
Over 30 years that is about $142,707 more in interest, which is why comparing several lenders on the same day matters.
Are mortgage rates different for purchase and refinance loans?
Yes, slightly. In 2025, California's conventional rate-and-term refinances closed at a median 6.38% and purchases at 6.62%, partly because refinances bunch up when rates dip. Refinances priced 0.09 percentage points below the market benchmark; cash-out refinances usually cost more. Your own pricing depends on credit, loan-to-value and points.
How much is a mortgage on a $700,000 house in California?
About $4,354 a month with 20% down at 7.18%: $3,794 principal and interest, $443 property tax at California's 0.76% effective rate and $117 homeowners insurance. With 10% down, PMI adds about $368 and the total is near $5,195.
California's property tax runs below the U.S. median (0.76% vs 0.91% of value), and insurance below the U.S. median (0.20% vs 0.40% of value).
How much do you need to make to afford a $700,000 house in California?
About $187,000 a year with 20% down, so the $4,354 monthly payment stays within 28% of gross income — or about $223,000 with 10% down once PMI is added.
Car, student-loan and card payments count too: conventional loans generally cap all monthly debts at 45% of income (50% with an automated approval), FHA at 43% (up to 57% with compensating factors).
- Freddie Mac — Primary Mortgage Market Survey
- FFIEC / CFPB — Average Prime Offer Rates (APOR)
- FFIEC / CFPB — HMDA data browser (2025 loan-level records)
- Optimal Blue OBMMI via FRED (FHA, VA, USDA, jumbo)
- FHFA — 2026 conforming loan limits by county
- U.S. Census Bureau — 2024 American Community Survey microdata (property tax and homeowners insurance)
- HUD — Handbook 4000.1 (FHA mortgage insurance)
Rates shown are national weekly averages for general guidance, not an offer or personalized quote. Payment estimates assume the down payment noted plus estimated taxes and insurance. Confirm current pricing with a licensed lender.