Mortgage rates in California
Average 30-year fixed 6.49% · Updated July 9, 2026 · Freddie Mac (FRED)
Many California counties exceed the baseline conforming limit and use high-cost loan limits. Below is what buying at California's median price looks like at today's national average rate, plus the local property tax and assistance that actually change your payment.
What a mortgage costs in California
The interest rate on a California mortgage is the same 6.49% national average a lender would quote anywhere — rates are set by the bond market, not by your state. On California's median $749,450 home with 20% down, the loan works out to $599,560, or about $3,786 a month in principal and interest.
What makes California different is the cost around the loan. Its 0.71% effective property-tax rate adds roughly $443 a month, and homeowners insurance about $281 more — bringing the all-in estimate to $4,510. Those local costs, not the interest rate, are what set California apart. Your own price and down payment will move the number — work backward from your income with the affordability estimator.
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 (70,414 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 — California's housing finance agency — runs the state's main assistance program: MyHome and the Dream For All shared-appreciation loan help with the down payment. Eligibility usually turns on income limits and a homebuyer-education course. 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.
California mortgage FAQ
What is the current mortgage rate in California?
As of July 9, 2026, the U.S. average 30-year fixed rate is 6.49%. The note rate itself is set nationally, not by state — a lender prices your California loan the same way it would anywhere, based on your credit, down payment and loan type.
What changes locally is everything around the rate: California's ~0.71% effective property tax, insurance costs, and which assistance programs apply.
What is the monthly payment on a typical California home?
On California's median home price of about $749,450 with 20% down at today's 6.49% average 30-year rate, expect roughly $4,510/month — that's $3,786 principal and interest plus about $443 property tax and $281 insurance. Adjust the numbers for your exact price and down payment in our calculators.
How hard is it to get approved for a mortgage in California?
In 2025, California lenders originated 572,268 home loans and denied 177,363 applications — an approval rate of about 76.3% among decisioned applications, versus 76.6% nationally, according to federal HMDA data. See how every state ranks in our mortgage approval report.
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.