MATIASGUARRO

Whether you’re searching for a new home or planning to refinance, understanding mortgage and refinance rates is essential to navigating Oklahoma’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 Oklahoma 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 Oklahoma’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 Oklahoma mortgage and refinance rates may help you save.

Today’s Mortgage Rates in Oklahoma

Oklahoma’s average APR on a 30-year mortgage rose 0.089 points to 6.33% over the past week, according to data from the Mortgage Research Center. The rate is down 0.238 points over the last 90 days and basically flat over the last 30 days.

The state’s average APR for the benchmark 15-year fixed mortgage increased 0.125 points to 5.464% over the past week. Over the last 90 days, the rate is down 0.099 points; it’s up 0.072 points over the last 30 days.

The average APR for a 30-year jumbo mortgage climbed 0.064 points to 6.768% since last week. It’s down 0.093 points over the last 90 days and up 0.072 points over the last 30 days.

30-year fixed-rate mortgage:

• Today. The average APR for the benchmark 30-year fixed mortgage is 6.33%.
• Last week. 6.241%.

15-year fixed-rate mortgage:

• Today. The average APR on a 15-year fixed mortgage is 5.464%.
• Last week. 5.339%.

30-year fixed-rate jumbo mortgage:

• Today. The average APR on the 30-year fixed-rate jumbo mortgage is 6.768%.
• Last week. 6.704%.

Today’s Refinance Rates in Oklahoma

Oklahoma’s average APR for the benchmark 30-year fixed refinance mortgage rose 0.045 points to 6.383% compared to a week ago. The rate is down 0.239 points over the last 90 days and down 0.024 points over the last 30 days.

The average APR in the state on a 15-year refinanced mortgage rose 0.112 points to 5.439% weekly. Over the last 90 days, the rate is down 0.128 points over the last 90 days; it’s up 0.082 points over the last 30 days.

For jumbo 30-year refinanced mortgages, the average APR climbed 0.059 points to 6.801% week-to-week. It’s down 0.157 points over the last 90 days and up 0.057 points over the last 30 days.

30-year fixed-rate refinance mortgage:

• Today. The average APR for the benchmark 30-year fixed mortgage is 6.383%.
• Last week. 6.338%

15-year fixed-rate refinance mortgage:

• Today. The average APR on a 15-year fixed mortgage is 5.439%.
• Last week. 5.327%.

30-year fixed-rate jumbo refinance mortgage:

• Today. The average APR on the 30-year fixed-rate jumbo mortgage is 6.801%.
• Last week. 6.742%.

Oklahoma Mortgage Rate Trends

Following mortgage rate trends can help you track patterns and changes in the Oklahoma housing market over time. By understanding these trends, you can make more informed decisions about when to purchase a home, refinance or lock in a rate for a second mortgage. If you’re well-qualified, analyzing Oklahoma mortgage rate trends may help you save money over the life of the loan.

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

Oklahoma 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 Oklahoma is 6.33%, while the national average rate is 6.335%. That’s 0.005 percentage points lower than the national average.

Oklahoma’s mortgage refinance rate today is 6.383% versus the national average of 6.389% – 0.006 percentage points lower than the national average.

Buying a House in Oklahoma

Buying a home in Oklahoma can be an exciting journey. Whether you’re drawn to big cities like Oklahoma City and Tulsa or prefer a quiet rural community, understanding the local real estate market is key. Partnering with a local real estate agent can simplify the search and streamline the home-buying process. Staying on top of market trends and state-specific regulations can make it even easier to find the right house and make an offer.

How to Get the Best Mortgage Rates in Oklahoma

Securing the best mortgage rates in Oklahoma requires a bit of planning and research. Start by understanding the current interest rates and trends in your area, as these vary by region. It’s also crucial to shop around and compare offers from multiple lenders, including banks, credit unions and online mortgage providers.

Maintaining a strong credit score, providing a substantial down payment and having a stable financial history can help you qualify for more favorable rates. A local mortgage broker or financial advisor who knows the Oklahoma market can provide valuable insights and help you navigate the process efficiently. By staying informed and proactive, you can find a mortgage rate that best fits your financial situation and home-buying goals.