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Whether you’re searching for a new home or planning to refinance, understanding mortgage and refinance rates is essential to navigating Wisconsin’s housing market. That said, interest rates aren’t set in stone, and they fluctuate based on economic factors, like 10-year Treasury yields, market conditions, inflation and Federal Reserve policy.

We summarized the current Wisconsin mortgage and refinance rates to help you understand these fluctuations and choose the right time to lock in a mortgage rate. Our team also compared Wisconsin’s rate trends to nationwide rates to help you choose the right time to buy or refinance a home. Even a small change in rates can impact the overall cost of borrowing, and understanding Wisconsin mortgage and refinance rates may help you save.

Today’s Mortgage Rates in Wisconsin

Wisconsin’s average APR on a 30-year mortgage decreased 0.053 points to 6.268% over the past week, according to data from the Mortgage Research Center. The rate is down 0.567 points over the last 90 days and down 0.263 points over the last 30 days.

The state’s average APR for the benchmark 15-year fixed mortgage increased 0.026 points to 5.288% over the past week. Over the last 90 days, the rate is down 0.571 points; it’s down 0.242 points over the last 30 days.

The average APR for a 30-year jumbo mortgage increased 0.118 points to 6.712% since last week. It’s down 0.403 points over the last 90 days and up 0.025 points over the last 30 days.

30-year fixed-rate mortgage:

• Today. The average APR for the benchmark 30-year fixed mortgage is 6.268%.
• Last week. 6.321%.

15-year fixed-rate mortgage:

• Today. The average APR on a 15-year fixed mortgage is 5.288%.
• Last week. 5.262%.

30-year fixed-rate jumbo mortgage:

• Today. The average APR on the 30-year fixed-rate jumbo mortgage is 6.712%.
• Last week. 6.594%.

Today’s Refinance Rates in Wisconsin

Wisconsin’s average APR for the benchmark 30-year fixed refinance mortgage slipped 0.032 points to 6.367% compared to a week ago. The rate is down 0.541 points over the last 90 days and down 0.225 points over the last 30 days.

The average APR in the state on a 15-year refinanced mortgage increased 0.024 points to 5.271% weekly. Over the last 90 days, the rate is down 0.577 points over the last 90 days; it’s down 0.254 points over the last 30 days.

For jumbo 30-year refinanced mortgages, the average APR increased 0.121 points to 6.754% week-to-week. It’s down 0.432 points over the last 90 days and up 0.052 points over the last 30 days.

30-year fixed-rate refinance mortgage:

• Today. The average APR for the benchmark 30-year fixed mortgage is 6.367%.
• Last week. 6.399%.

15-year fixed-rate refinance mortgage:

• Today. The average APR on a 15-year fixed mortgage is 5.271%.
• Last week. 5.247%.

30-year fixed-rate jumbo refinance mortgage:

• Today. The average APR on the 30-year fixed-rate jumbo mortgage is 6.754%.
• Last week. 6.633%.

Wisconsin Mortgage Rate Trends

Understanding mortgage rate trends can help you make more informed home-buying decisions. They can also help you decide when to refinance your current mortgage or lock in a rate for a second mortgage. Depending on your other qualifications as a borrower, analyzing Wisconsin mortgage rate trends may also help you reduce borrowing costs over the life of your mortgage.

Wisconsin’s mortgage rates have trended downward over the last three months, as have national rates.

Wisconsin Mortgage Rates vs. National Mortgage Rates

Although state mortgage rates generally follow changes in the national average, they do vary by state.

Today’s average mortgage rate in Wisconsin is 6.268%, while the national average rate is 6.275%. That’s -0.007 percentage points lower than the national average.

Wisconsin’s mortgage refinance rate today is 6.367% versus the national average of 6.371% – 0.004 percentage points lower than the national average.

Use the chart below to explore the differences between states.

Buying a House in Wisconsin

Buying a home in Wisconsin can be an exciting adventure. Wisconsin’s unique and varied landscape makes it easy to find a house or neighborhood that meets your needs. Whether you want to be close to a bustling downtown or in a quiet rural area, knowing the local real estate market and home-buying process is important. Working with a local real estate agent can make it easier to find and buy your perfect home. Staying informed about the market and local rules will also help to make your home-buying journey a breeze.

How to Get the Best Mortgage Rates in Wisconsin

You’ll need to do a bit of planning and research to get the best mortgage rates in Wisconsin. Current interest rates and trends can vary widely across different regions, so start by understanding what to expect in your area. Then, shop around to compare offers from multiple lenders, including banks, credit unions and online mortgage providers.

You may also qualify for more favorable rates if you maintain a strong credit score, provide a substantial down payment and demonstrate a stable financial history. Consult with a local mortgage broker or financial advisor who’s familiar with the Wisconsin housing market to gain valuable insights and navigate the process more efficiently. By staying informed and proactive, you can find a mortgage rate that best fits your financial situation and home-buying goals.