California Mortgage Rates - August 2026
Brian McKay
Brian McKay
Founder & Data Architect- Automated Online Rate Data Aggregation
- Location-Based Rate Tables
- Bank & Credit Union Health Safety Ratings
- Bank & Credit Union Star Ratings
- Finance Calculators
Current 30-year fixed mortgage rates in California include 1st Northern California Credit Union1st Northern California Credit Union1111 Pine St, Benicia, CA, 94510 3579A+5.0 ★Texas Ratio: 0.24% at 5.50%, Actors Federal Credit UnionActors Federal Credit Union5656 Tujunga Ave, Los Angeles, CA, 90036 3684B+4.8 ★Texas Ratio: 16.47% at 5.79%, Safe 1 Credit UnionSafe 1 Credit Union1008 Fremont St, Bakersfield, CA, 93215A+5.0 ★Texas Ratio: 1.41% at 6.00%, Partners Federal Credit UnionPartners Federal Credit Union100 N First St Ste 400, Anaheim, CA, 91201A5.0 ★Texas Ratio: 6.02% at 5.99%, and Inova Federal Credit UnionInova Federal Credit Union2607 7th St Ste A, Berkeley, CA, 94710 2571A5.0 ★Texas Ratio: 9.61% at 5.99%. Mortgage rates as of August 28, 2026 according to verified data from MonitorBankRates.
Use the tabs below to compare mortgage rates across all loan types in California side-by-side. California mortgage rates currently start as low as 5.50% from 1st Northern California Credit Union at 1111 Pine St, Benicia, CA, 94510 3579. Rates are continually updated — we recommend checking back frequently.
Mortgage Rates reflect actual verified offers from lenders actively lending to California borrowers. Your final approved rate will depend on your credit profile, loan-to-value ratio, and daily market movements. Last Updated and Verified: August 28, 2026
Compare Mortgage Rates Today in California
California 30 Year Fixed Mortgage Rates
Owner-occupied, existing single-family residence, in California only, serving as a primary residence, with a loan-to-value ratio of less than 80%, and excellent credit.
No additional details available.
As Low As
For a limited time
No additional details available.
My Rate
No additional details available.
No additional details available.
No additional details available.
No additional details available.
No additional details available.
No additional details available.
Construction to Perm Loan
No Closing Cost
No additional details available.
No additional details available.
No additional details available.
No additional details available.
APR examples above are based on an owner-occupied, detached single family residence, Purchase or Limited Cash Out refinance, loan amount of $450,000 at a maximum 60% Loan to Value (LTV), minimum Credit Score of 720 and 30-day lock commitment. Disclosed APR includes 15 days of estimated prepaid interest. Final rate will depend on factors including market conditions, specific characteristics of the loan transaction, and Private Mortgage Insurance for loans over 80% LTV. For loans less than $275,000, please contact your Loan Officer for the discounted interest rates and APRs. For purchases, the minimum down payment is 3.0% of purchase price; for refinances, maximum LTV is 97%. Limited Cash Out is receiving cash back in an amount that is not more than the lesser of 2% of the new refinance loan amount or $2,000.
Rate as low as 6.375%
Rates Subject to Change. APR=Annual Percentage Rate. Rates Effective August 4, 2026. View Full Disclosures .
As Low As
Loan payments do not include taxes and insurance.
No additional details available.
No additional details available.
No additional details available.
No additional details available.
No additional details available.
From $50K to $832,750
No additional details available.
No additional details available.
As Low As
As low as
No additional details available.
Monthly payment of $3,202 per month per $500,000 borrowed is based on a conforming 30-year fixed term at a 6.625% interest rate (6.701% APR) and reflects principal and interest payments only. Payment example does not include taxes, insurance, or homeowners association dues, and the actual payment obligation may be greater.
No additional details available.
No additional details available.
No additional details available.
No additional details available.
No additional details available.
No additional details available.
No additional details available.
As Low As
No additional details available.
As low as
No additional details available.
FHA Loan
No additional details available.
No additional details available.
No additional details available.
California 15 Year Fixed Mortgage Rates
No additional details available.
No additional details available.
No additional details available.
No additional details available.
No additional details available.
No additional details available.
No additional details available.
Rate as low as 5.625%
No Closing Cost
No additional details available.
No additional details available.
No additional details available.
No additional details available.
No additional details available.
No additional details available.
No additional details available.
APR examples above are based on an owner-occupied, detached single family residence, Purchase or Limited Cash Out refinance, loan amount of $450,000 at a maximum 60% Loan to Value (LTV), minimum Credit Score of 720 and 30-day lock commitment. Disclosed APR includes 15 days of estimated prepaid interest. Final rate will depend on factors including market conditions, specific characteristics of the loan transaction, and Private Mortgage Insurance for loans over 80% LTV. For loans less than $201,000, please contact your Loan Officer for the discounted interest rates and APRs. For purchases, the minimum down payment is 3.0% of purchase price; for refinances, maximum LTV is 97%. Limited Cash Out is receiving cash back in an amount that is not more than the lesser of 2% of the new refinance loan amount or $2,000.
No additional details available.
As Low As
No additional details available.
No additional details available.
No additional details available.
No additional details available.
No additional details available.
No additional details available.
Loan payments do not include taxes and insurance.
No additional details available.
From $50K to $832,750
Rates Subject to Change. APR=Annual Percentage Rate. Rates Effective August 4, 2026. View Full Disclosures .
Rates listed include 0.125% autopay and paperless discount. Rates include a 0.125 percentage point reduction which requires a Citizens consumer checking account set up at time of loan origination with automatic monthly payment deduction.
No additional details available.
No additional details available.
No additional details available.
No additional details available.
FHA Loan
No additional details available.
No additional details available.
Choose either a 15 or 30 year term.
No additional details available.
No additional details available.
No additional details available.
No additional details available.
No additional details available.
No additional details available.
Loan payments do not include taxes and insurance.
As low as
No additional details available.
No Closing Cost, FHA Loan
No additional details available.
No additional details available.
California 5/1 ARM Mortgage Rates
No additional details available.
No additional details available.
California owner-occupied property only
No additional details available.
California owner-occupied property only
As Low As; Subject to credit approval. Some restrictions may apply.
No additional details available.
Interest rates shown are for informational purposes only and are based on a single-family detached, owner occupied property located in California, LTV of 60%, and a credit score of at least 740. Certain interest rate and/or discount point adjustments may apply depending on loan features, LTV and credit worthiness. Maximum loan-to-value (LTV) will vary by product. APR calculations assume a loan amount of $300,000 plus fees and funding at month-end. Additional restrictions and conditions may apply.
Interest rates shown are for informational purposes only and are based on a single-family detached, owner occupied property located in California, LTV of 60%, and a credit score of at least 740. Certain interest rate and/or discount point adjustments may apply depending on loan features, LTV and credit worthiness. Maximum loan-to-value (LTV) will vary by product. APR calculations assume a loan amount of $300,000 plus fees and funding at month-end. Additional restrictions and conditions may apply.
California owner-occupied property only
ARM = Adjustable Rate Mortgage. Adjustable Rate Mortgages are variable and the Annual Percentage Rate (APR) may increase after the initial fixed rate period.
Margin: 2.500%; Caps: 2/2/6
Caps: 2/2/6
As low as
Margin: 2.375%; Caps: 2/2/5
Caps: 2/2/5
No additional details available.
No additional details available.
Index: SOFR, Margin: 2.75
No additional details available.
Index: One-Year Constant Maturity Treasury Rate; Current Index Value: 3.91% as of 07/10/2026; Caps: 1/1/4; Maximum rate and APR over the life of the loan is 4% from the start rate.
As Low As; Subject to credit approval. Some restrictions may apply.
No additional details available.
2% initial, 2% periodic, 5% lifetime caps; CMT Index: 4.000%; Margin: 2.750%
No additional details available.
No additional details available.
Rate adjusts every 5 years; Margin: 2.750%; Caps: 2% initial, 2% periodic, 5% lifetime; Index: 4.000%
2% initial, 2% periodic, 6% lifetime caps; CMT Index: 4.370%; Margin: 2.375%
No additional details available.
Rate adjusts every 5 years; Margin: 2.375%; Caps: 2% initial, 2% periodic, 6% lifetime; Index: 4.370%
Rate adjusts every 5 years; Margin: 2.750%; Caps: 2% initial, 2% periodic, 5% lifetime; CMT Index: 4.000%
No additional details available.
No additional details available.
5
Rates are variable and subject to change without notice.
As low as
Rate adjusts every 5 years; Margin: 2.375%; Caps: 2% initial, 2% periodic, 6% lifetime; CMT Index: 4.370%
Conforming mortgages: based on the purchase of a single-family, primary residence, 80% loan-to-value (LTV), a credit score of 740, 15 days of prepaid interest and an interest rate with a 60-day lock period. Rates shown are for the following counties in the state of New York only (Bronx, Kings, New York, Orange, Queens, Richmond, Rockland, Westchester, Nassau, Suffolk, and Erie); for current rates available in other counties in NY and all other States, please call 866.427.2101.
Jumbo mortgages: based on the purchase of a single-family, primary residence, 65% loan- to-value (LTV), a credit score of 740, 15 days of prepaid interest and an interest rate with a 60-day lock period. Rates shown are for New York only; for current rates available in other states, please call 866.427.2101.
No additional details available.
No additional details available.
As low as; Initial rate fixed for the first five years. After that, rate adjusts based on market conditions once every five years. Initial APR is discounted and not based on the Index and margin used to make later APR and payment adjustments. Representative payment example: For a $400,000 loan at an initial discounted interest rate of 6.000% and APR of 6.379%, the monthly payment schedule would be 60 payments of $2,398.20 followed by 300 payments of $2,870.01 at an interest rate of 7.990% (based on current market rates). This example assumes no change in the rate after the second 5-year adjustment period; however, the interest rate may change every 5 years based on changes in the Index; your payment can change every 5 years based on changes in the interest rate. If an escrow account is required or requested, the actual monthly payment will also include amounts for real estate taxes, homeowner's insurance, flood and private mortgage insurance if applicable. Eligible properties are primary residence single-family homes and Planned Unit Development (PUD) properties.
First Trust Deed 30 years
Initial 5 years fixed, then adjusts annually. Example payment on a 30-year loan of $300,000 would be 360 monthly payments. The monthly payment in the first five years would be $1,750.72 and would be adjusted after the fifth year.
No additional details available.
No additional details available.
Fully Indexed Rate: 6.885% Maximum Interest Rate: 10.250% Months to First Rate Adjustment: 60 Months Permanent Loan Payment Stream
No additional details available.
Rate as low as 5.250%
No additional details available.
California 30-Year Jumbo Mortgage Rates
Certain restrictions may apply. Maximum Loan Amount: Up to 80% combined loan to value, Jumbo Loans: Jumbo loans amounts vary and depend on property location. Rates shown above are based on the following scenario: single unit property, primary residence, non-manufactured, 60% CLTV, and 760+ credit. Rates can vary based on a loan scenario. CU SoCal mortgages are available for CA and AZ properties only. Payment examples provided do not include taxes or insurance, actual amounts may be greater.
Jumbo loans are loans exceeding $832,750. APR is based on a $900,000 loan amount. Rates also available for Non-Owner Occupied.
Jumbo loans are loans exceeding $832,750. APR is based on a $900,000 loan amount. Rates also available for Non-Owner Occupied.
Rates As Low As; APR* As Low As
No additional details available.
No additional details available.
Rates As Low As; APR* As Low As
Loan payments do not include taxes and insurance.
No additional details available.
No additional details available.
Caps: 2/2/6
No additional details available.
Loan payments do not include taxes and insurance.
No additional details available.
No additional details available.
No additional details available.
Loan payments do not include taxes and insurance.
Rate as low as 6.250%
First Trust Deed 30 years
9
First Trust Deed 30 years
No additional details available.
First Trust Deed 30 years
No additional details available.
No additional details available.
APR examples above are based on an owner-occupied, detached single family residence, Purchase or Limited Cash Out refinance, loan amount of $450,000 at a maximum 60% Loan to Value (LTV), minimum Credit Score of 720 and 30-day lock commitment. Disclosed APR includes 15 days of estimated prepaid interest. Final rate will depend on factors including market conditions, specific characteristics of the loan transaction, and Private Mortgage Insurance for loans over 80% LTV. For loans less than $275,000, please contact your Loan Officer for the discounted interest rates and APRs. For purchases, the minimum down payment is 3.0% of purchase price; for refinances, maximum LTV is 97%. Limited Cash Out is receiving cash back in an amount that is not more than the lesser of 2% of the new refinance loan amount or $2,000.
The Annual Percentage Rate (APR) for Jumbo loans assumes a loan amount of $900,000.
First Trust Deed 30 years
Loan payments do not include taxes and insurance.
As Low As; Rate 1 7 Years; Current Calculation of Rate Remaining Term: 7.375%
No additional details available.
No additional details available.
The 5-year fixed-to-adjustable-rate mortgage for investment properties (also known as a "5-year investment property ARM") is a 30-year loan that has a fixed interest rate for the first five years. For the remaining 25 years, the interest rate is variable. The current interest rate for the first five years is 6.375% (6.560% APR for conforming loans, or 6.659% APR for jumbo loans). After five years, the interest rate and APR will adjust every year, depending on market conditions, based on an index and margin. This means that the interest rate and APR-and monthly payments-may increase or decrease every year after the initial five-year period. You can use our mortgage calculator to calculate an estimated monthly payment for the first five years of this loan. Loan payments do not include taxes and insurance.
Loan Amounts: See Below
No additional details available.
No additional details available.
The 3-year fixed-to-adjustable-rate mortgage for investment properties (also known as a "3-year investment property ARM") is a 30-year loan that has a fixed interest rate for the first three years. For the remaining 27 years, the interest rate is variable. The current interest rate for the first three years is 6.250% (6.545% APR for conforming loans, or 6.678% APR for jumbo loans). After three years, the interest rate and APR will adjust every year, depending on market conditions, based on an index and margin. This means that the interest rate and APR-and monthly payments-may increase or decrease every year after the initial three-year period. You can use our mortgage calculator to calculate an estimated monthly payment for the first three years of this loan. Loan payments do not include taxes and insurance.
The 7-year fixed-to-adjustable-rate mortgage for investment properties (also known as a "7-year investment property ARM") is a 30-year loan that has a fixed interest rate for the first seven years. For the remaining 23 years, the interest rate is variable. The current interest rate for the first seven years is 6.500% (6.612% APR for conforming loans, or 6.680% APR for jumbo loans). After seven years, the interest rate and APR will adjust every year, depending on market conditions, based on an index and margin. This means that the interest rate and APR-and monthly payments-may increase or decrease every year after the initial seven-year period. You can use our mortgage calculator to calculate an estimated monthly payment for the first seven years of this loan. Loan payments do not include taxes and insurance.
The 10-year fixed-to-adjustable-rate mortgage for investment properties (also known as a "10-year investment property ARM") is a 30-year loan that has a fixed interest rate for the first 10 years. For the remaining 20 years, the interest rate is variable. The current interest rate for the first three years is 6.625% (6.697% APR for conforming loans, or 6.728% APR for jumbo loans). After 10 years, the interest rate and APR will adjust every year, depending on market conditions, based on an index and margin. This means that the interest rate and APR-and monthly payments-may increase or decrease every year after the initial 10-year period. You can use our mortgage calculator to calculate an estimated monthly payment for the first 10 years of this loan. Loan payments do not include taxes and insurance.
No additional details available.
No additional details available.
No additional details available.
As Low As; Rate 1 7 Years; Current Calculation of Rate Remaining Term: 7.375%
No additional details available.
9
No additional details available.
Loan amounts up to $2.5 million Purchase | No cash-out refinance | Single-family home | Primary residence
No additional details available.
Loan payments do not include taxes and insurance.
No additional details available.
California 15-Year Jumbo Mortgage Rates
Jumbo loans are loans exceeding $832,750. APR is based on a $900,000 loan amount. Rates also available for Non-Owner Occupied.
Rates As Low As; APR* As Low As
No additional details available.
Loan payments do not include taxes and insurance.
Loan Amounts: See Below
No additional details available.
Loan amounts up to $2.5 million Purchase | No cash-out refinance | Single-family home | Primary residence
No additional details available.
Loan payments do not include taxes and insurance.
No additional details available.
No additional details available.
California 5/1 Jumbo ARM Mortgage Rates
As low as; Rate: 6.625%
Caps: 2/2/6
As low as
No additional details available.
Caps: 2/2/5
No additional details available.
No additional details available.
As low as; Rate: 6.625%
No additional details available.
No additional details available.
8
No additional details available.
No additional details available.
Annual Percentage Rates shown are "as low as."
7
No additional details available.
First Trust Deed 30 years
No additional details available.
No additional details available.
California FHA Loan Rates
FHA Loan
No additional details available.
No Closing Cost, FHA Loan
FHA Loan
No additional details available.
No additional details available.
No Closing Cost, FHA Loan
No additional details available.
No additional details available.
No additional details available.
No additional details available.
California VA Loan Rates
As Low As
We charge a loan origination fee of 1% of the loan amount
No additional details available.
As Low As; Subject to credit approval. Some restrictions may apply.
No additional details available.
No additional details available.
Annual Percentage Rates shown are "as low as."
No additional details available.
No additional details available.
No additional details available.
No additional details available.
We charge a loan origination fee of 1% of the loan amount
As Low As; Adjustable APRs may increase or decrease after loan consummation, with a maximum APR of 18%.
No additional details available.
Banks and Credit Unions: If you need to update your rate data or request removal from MonitorBankRates.com, please contact us here.
California Mortgage Rate Trends
Compare local California mortgage rate quotes against the statewide average
Daily mortgage rate averages tracked across our database of verified mortgage rate quotes — updated every evening.
California 30-year fixed rates fell 0.030 points over the past 7 days to 6.642%.
California 15-year fixed rates rose 0.021 points over the past 7 days to 6.192%.
California Mortgage Rate Forecast — Next 12 Months
Where are California mortgage rates headed through August 2027?
Based on Fed funds rate futures, 10-year Treasury path, and historical mortgage spread model. Not financial advice.
What Forecast Rates Mean for California Home Buyers
Monthly principal & interest payment on California median home of $734,700 (20% down, 30-year fixed, state-level Census ACS median)
| Scenario | Rate | Mo. Payment | vs. Today | % of Income |
|---|---|---|---|---|
| Today (CA avg) | 6.642% | $3,770 | — | 45.6% |
| 6-Month Forecast | 6.642% (6.29–6.94%) | $3,770 | +$0/mo | 45.6% |
| 12-Month Forecast | 6.242% (5.89–6.54%) | $3,616 | -$154/mo | 43.8% |
Income column = annual mortgage payment as % of California median household income ($99,122). Above 30% is generally considered cost-burdened.
MonitorBankRates Housing Affordability Index (MBR-HAI)
A daily-updated affordability score for California — updated every night from live mortgage rates across our monitoring network combined with U.S. Census Bureau income, home value, and cost burden data.
What This Score Means for California Home Buyers
With a score of 68.6, California is 30.9 points less affordable than the national average of 99.4. California ranks #51 out of 51 states for affordability — among the more expensive states relative to income.
The index reflects the current California 30-year mortgage rate of 6.642% combined with Census median home values, household income, property taxes, and cost burden data. A 0.25% rate change shifts the score by approximately 0.8-1.0 points — meaning today’s rate environment directly impacts how affordable homeownership is relative to local incomes across California.
Scores update each morning, computed from rate data captured the previous night. Computed from live mortgage rates across FDIC-insured banks and NCUA-chartered credit unions, combined with U.S. Census Bureau ACS 5-Year Estimates (2024) and CPS/HVS Q4 2025. Score of 100 = national average at 6.5% reference rate. Full methodology →
How Mortgage Rates Impact Home Affordability in California
California Housing Market Overview
According to the U.S. Census Bureau, the median owner-occupied home value in California is approximately $734,700. The 2026 FHFA conforming loan limit for California is $832,750.
California Homeownership Rate
With a homeownership rate of 55.3% — significantly below the national average of 65.7% — California has a large pool of potential buyers actively competing for available properties. The homeowner vacancy rate of 1.3% signals a tight market with limited available inventory — making it critical to secure the best possible rate quickly when a suitable property becomes available.
Monthly Payment Estimates for California Buyers
Even a small difference in your interest rate can add up to tens of thousands of dollars over the life of a loan. The table below shows monthly principal and interest payments on a $590,000 mortgage — based on a 20% down payment on the California median home value.
| Interest Rate | Loan Term | Monthly Payment | Total Interest Paid |
|---|---|---|---|
| 6.142% | 30-year fixed | $3,591 | $702,901 |
| 6.642% Current Avg | 30-year fixed | $3,784 | $772,409 |
| 7.142% | 30-year fixed | $3,982 | $843,416 |
| 6.192% | 15-year fixed | $5,040 | $317,229 |
A 0.500% rate increase on a $590,000 loan adds roughly $197 per month and over $71,007 in total interest over a 30-year term. That’s why comparing verified, current rates from multiple lenders — using the rate table above — is one of the most impactful financial decisions a California buyer can make.
Data sources: U.S. Census Bureau; Federal Housing Finance Agency (FHFA). Monthly payments shown are principal & interest only — taxes, insurance, and PMI not included.
California Income & Housing Affordability
At a price-to-income ratio of 7.4x, California is a high-cost housing market where the ratio of home prices to local incomes is well above the national norm. That ratio — median home value divided by median household income — is a standard benchmark used by housing economists to gauge how accessible homeownership is relative to local earnings. The national baseline is approximately 3.8x.
What This Means for California Buyers
With a median household income of $99,122 per year in California ($8,260/month) and a median home value of approximately $734,700, a buyer financing at 80% LTV at the current average rate would commit roughly 45.8% of gross monthly income to principal and interest alone. That exceeds the 43% debt-to-income ceiling most conventional lenders use as their maximum qualification threshold — meaning many buyers must bring a larger down payment, add a co-borrower, or target lower price points to qualify.
Data sources: U.S. Census Bureau. Monthly payment estimate assumes 80% LTV at current average rate; principal and interest only.
Full Cost of Homeownership in California
A mortgage payment is just the starting point. Property taxes, insurance, and utilities add hundreds of dollars per month to the true cost of owning a home across California. Understanding the full picture before you buy is the difference between a home you can afford and one that stretches you thin.
Owner vs. Renter Costs
Across California, the median homeowner with a mortgage pays approximately $2,221/month in total housing costs — covering the mortgage payment, property taxes, insurance, and utilities. The median renter pays $2,036/month including utilities. The $185/month difference between owning and renting is relatively narrow — worth factoring carefully into a rent vs. buy analysis given that owners also build equity over time. Property taxes alone account for $487/month of the ownership cost, a figure that can vary dramatically by location and is often underestimated by first-time buyers.
Housing Cost Burden
The federal standard defines “cost burdened” as spending more than 30% of gross household income on housing. “Severely cost burdened” means spending 50% or more. Both thresholds leave little room for savings, emergencies, or other financial goals.
Across California, 38% of homeowners with mortgages are cost burdened and 53% of renters are cost burdened. Renters face significantly higher burden rates than owners — a pattern that often reflects lower renter incomes rather than lower rental costs, and one that can make the path from renting to owning financially difficult even when mortgage payments might be affordable. The 38% owner burden rate — well above the national average of 28.0% — underscores why securing the lowest possible mortgage rate is especially important here. Even a 0.25% rate reduction on a median-priced home can move a buyer from cost-burdened to within the manageable threshold.
Data sources: U.S. Census Bureau, American Community Survey 5-Year Estimates. Monthly owner costs include mortgage payment, taxes, insurance, and utilities. Property taxes reflect median annual taxes for mortgage holders. Rent reflects median gross rent including utilities. Cost burden figures reflect households spending 30%+ of gross income on housing.
California Mortgage Payment Calculator
See your estimated monthly principal & interest payment at today’s California rates. The home price is prefilled with the local median home value — adjust anything, or click a current rate on the right to apply that loan type’s rate and term instantly.
Principal & interest only — excludes property taxes, homeowners insurance, PMI, and HOA dues. See the Full Cost of Homeownership section above for those figures. Estimates are for informational purposes only.
Run the Numbers on Your California Home Loan
Rates are only part of the equation. Use these calculators to translate current California mortgage rates into real numbers for your specific situation — before you talk to a lender.
Enter your loan amount, interest rate, and term length to see your estimated monthly principal and interest payment. Adjust any variable to model different scenarios — a larger down payment, a shorter term, or a rate a quarter-point lower than what you were quoted.
CalculateTell us your gross income, monthly debt obligations, and how much you have for a down payment. We’ll show you the home price range you’re likely to qualify for at current California rates — so you can shop with a realistic number in mind rather than discovering your ceiling after you’ve fallen in love with a property.
CalculateIf you already own a home, enter your current rate, remaining loan balance, and the rate you’ve been quoted to refinance. The calculator shows your new monthly payment, how much you’d save each month, and the break-even point — the number of months it takes for your savings to cover the closing costs of refinancing.
CalculateBuying isn’t always the better financial decision, and renting isn’t always throwing money away. This calculator weighs the full cost of each path — mortgage payments, taxes, insurance, and maintenance against rent increases and the opportunity cost of a down payment — to show which option builds more wealth over your intended time horizon in California.
CalculateTypes of Mortgages Available in California
Borrowers in California have access to a wide range of mortgage programs. Rates, down payment requirements, and eligibility rules vary significantly across products — understanding the differences before you compare lenders can save thousands of dollars over the life of your loan.
Fixed-Rate Mortgage
A fixed-rate mortgage locks your interest rate in for the entire loan term — your principal and interest payment on day one is identical to payment 360. That predictability is valuable for long-term financial planning, especially in markets where housing costs represent a large share of household income.
Available in 10-, 15-, 20-, and 30-year terms. The 30-year minimizes monthly payments; the 15-year cuts total interest paid dramatically but requires a higher monthly commitment. The payment comparison table above shows exactly how those trade-offs look at today’s California rate levels.
Adjustable-Rate Mortgage (ARM)
An ARM offers a fixed introductory rate for an initial period — commonly 5, 7, or 10 years — after which the rate adjusts periodically based on a market index. The starting rate is typically lower than a comparable fixed-rate loan, which reduces your monthly payment during the initial window.
ARMs work best when you have a defined exit timeline: if you plan to sell or refinance before the fixed period ends, you capture the lower rate without exposure to future adjustments. Rate caps govern how much the rate can move at each adjustment and in total, so read those terms closely before committing.
FHA Loan
Backed by the Federal Housing Administration, FHA loans are built for buyers who don’t yet meet conventional loan standards. You can qualify with a credit score of 580 and just 3.5% down — and some lenders will consider scores as low as 500 with a 10% down payment.
The cost of that lower barrier is mortgage insurance. FHA loans carry an upfront MIP of 1.75% of the loan amount (which can be rolled in) plus an annual MIP of 0.15%–0.75% depending on your term and LTV. For buyers who would otherwise wait years to save a larger down payment — given ongoing home price trends in California — FHA is often the faster path to ownership.
VA Loan
Available to eligible active-duty service members, veterans, reservists, National Guard members, and qualifying surviving spouses, VA loans are among the most favorable mortgage programs available anywhere. No down payment is required, there is no monthly mortgage insurance, and rates are generally competitive with — and often better than — conventional loan rates.
A one-time funding fee applies — 2.15% of the loan for first-time VA borrowers with no down payment — which can be financed into the loan. In California, where home prices require substantial savings for a conventional down payment, the zero-down VA benefit is an enormous advantage for those who qualify.
Jumbo Loan
Conforming loan limits in California vary by county. The 2026 FHFA baseline is $832,750 for most counties, with higher limits in designated high-cost areas. Any mortgage exceeding the applicable county limit is a jumbo loan and falls outside Fannie Mae and Freddie Mac guidelines.
Jumbo underwriting is stricter: lenders typically require a credit score of 700 or higher, substantial cash reserves, thorough income documentation, and a down payment of at least 10–20%. Rates may run slightly above conforming levels, though the gap narrows in competitive lending environments.
Methodology & Data Sources
Independent, Free, and Unbiased Rate Comparisons: MonitorBankRates.com is an independent rate comparison service. Our California mortgage rate tables are free for consumers to use, and we do not receive payment from any lender to be included or to be ranked in any particular order. Listings are based solely on the rates each lender publicly advertises on its own website.
A Note on Third-Party Rate Tools: Some pages on our site also feature rate comparison widgets and tools provided by third-party partners. These tools may include sponsored listings or affiliate links, and we may receive compensation when users click through them. We clearly label these widgets so you can tell at a glance which rates come from our independent MonitorBankRates.com tables and which come from our advertising partners.
Direct-Sourced & Verified Mortgage Rate Data: We aggregate mortgage and refinance rates for California directly from the official websites of local lenders, credit unions, and national mortgage originators using our proprietary rate aggregation technology and a dedicated team of rate updaters. Every rate displayed is highly accurate and trustworthy.
Local, Regional, and National Coverage: Our systems constantly monitor the market to provide a complete picture of available home loan products in California. We feature a comprehensive mix of licensed NMLS financial institutions — from neighborhood credit unions and competitive regional banks to large national originators available to borrowers in CA.
Daily Updates & Time-Stamped Accuracy: Our rate updaters verify and update mortgage rates daily. Because rates and APRs can fluctuate rapidly based on bond markets and economic conditions, every loan product features its own “last updated” date for full transparency.
Proprietary Lender Health & Safety Grades: Beyond tracking rates, MonitorBankRates evaluates the financial stability of every listed institution. Our Health Grades (A+ to F) and Star Ratings are composite metrics calculated using objective regulatory data — including the Texas Ratio — ensuring you compare rates from secure, reliable lenders.
How a Mortgage Works in California
A mortgage is a loan used to buy a home in California, secured by the property itself as collateral. The borrower repays the amount over a set term, most commonly 30 or 15 years, in monthly installments that cover both principal and interest. Because the loan is secured, the lender can foreclose on the home if payments are not made, which is part of why mortgage rates are lower than rates on unsecured debt.
Fixed-Rate vs. Adjustable-Rate Mortgages for California Buyers
A fixed-rate mortgage keeps the same interest rate for the entire term, so a California homeowner’s principal-and-interest payment never changes. For example, 1st Northern California Credit Union is listing a 30 Year Fixed at 5.50%. An adjustable-rate mortgage (ARM) starts with a fixed period, often five, seven, or ten years, and then adjusts periodically based on a market index. ARMs usually open with a lower rate, but the payment can rise once the fixed period ends, so they tend to suit California borrowers who expect to move or refinance before that point. On the adjustable-rate side, Actors Federal Credit Union is listing a Adjustable Rate Mortgages (ARMs) - 5/1 ARM at 4.50%.
How California Mortgage Rates Are Set
Mortgage rates move with the broader bond market, particularly the yield on the 10-year Treasury, plus a spread that reflects lender costs and risk. On top of that national baseline, the rate a California borrower is offered depends on individual factors: credit score, down payment size, loan amount, loan type, and the property itself. This is why the advertised rates above are a starting point, and a borrower’s final rate is set once an application is underwritten.
Points and Closing Costs in California
The interest rate is not the only cost of buying a home in California. Discount points are an optional upfront fee (one point equals one percent of the loan amount) paid to lower the rate over the life of the loan. Closing costs cover items such as origination fees, appraisal, title insurance, and recording, and typically run two to five percent of the loan. Comparing the annual percentage rate (APR) alongside the note rate helps California shoppers account for these costs when weighing lenders.
When California Homeowners Should Consider Refinancing
Refinancing replaces an existing mortgage with a new one, usually to secure a lower rate, change the term, or tap home equity. For California homeowners, the general guideline is that refinancing makes sense when the savings from a lower rate recoup the closing costs within the time the borrower plans to stay in the home, known as the break-even point. Borrowers also refinance to switch from an adjustable rate to a fixed rate, or to remove mortgage insurance once enough equity has built up.
Frequently Asked Questions about Mortgage Rates in California
How does my credit score affect my rate in California?
What is a 30-Year Fixed Mortgage?
What are closing costs in California?
Should I lock my mortgage rate?
What is an Adjustable-Rate Mortgage (ARM)?
What is a Jumbo Loan in California?
Do I need 20% down to buy a house in California?
What is the difference between Interest Rate and APR?
How do I find the best lender in California?
What is the median home value in California?
What is the homeownership rate in California?
What is the conforming loan limit in California?
What is the median monthly cost of homeownership in California?
What are the median property taxes in California?
What is the median rent in California?
What percentage of homeowners are cost burdened in California?
What percentage of renters are cost burdened in California?
What are the best Mortgage rates in California?
- 1st Northern California Credit Union: 5.50% (30 Year Fixed)
- Actors Federal Credit Union: 5.79% (30 Year Fixed-Rate Mortgage)
- Safe 1 Credit Union: 6.00% (30-Year Fixed Mortgage)
- Partners Federal Credit Union: 5.99% (30-year fixed-rate mortgage)
- Inova Federal Credit Union: 5.99% (30 Year Fixed Rate)
Mortgage Rates by City in California
