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Louisiana Mortgage Rates

Updated: May 24, 2024

Compare today's rates for Mortgage Refinance in LA

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Mortgage rates for Louisiana go down to 3.00%

Friday, May 24, 2024

Mortgage rates for Louisiana on Lender411 for 30-year fixed-rate mortgages are at 3.00%. That dropped from 3.00% to 3.00%. The 15-year fixed rates are now at 2.56%. The 5/1 ARM mortgage for Louisiana is now at 4.56%.

If you are looking for up to the minute Louisiana mortgage rates, you’ve come to the right place.  Finding the lowest rates is easy when you have access to our vast network of trusted mortgage professionals in Louisiana. Talk to multiple mortgage lenders in LA to compare rate quotes and understand your options.

Louisiana Mortgage Refinance

Why is it critical to find the lowest rate when refinancing?  Simply put, this is the entire goal of a refinance.  The lower your new rate, the more money you’ll save. While there are many ways to secure a refinance loan, the best option is the no cost refi, which allows you to switch to a new mortgage with a lower rate without paying the fees associated with closing a new loan.  This can literally save you thousands of dollars.

Home Loans in Louisiana

The loan types available in Louisiana are much like those available elsewhere.  One of the most widely available mortgage loan types is the 30 year fixed rate mortgage.  As the name implies, this loan comes with a fixed interest rate.  This is considered the most financially sound mortgage by many borrowers. Some opt for the 15-year fixed option.

The adjustable rate mortgage (ARM) is another common loan type.  You can also pursue a jumbo loan, interest-only loan, balloon mortgage, or other specialized loan type.  Whether or not one of these loans fits you will depend entirely on your needs and the requirements of your lender.  Government backed loans, such as the FHA loan and the VA loan, are available to those who qualify.

Louisiana Scenery

About Louisiana

Louisiana is a lively and colorful part of the Southern United States.  The capital city is Baton Rouge, and the most populous city is New Orleans, with other major cities including Shreveport, Metairie, and Lafayette.

Louisiana has a humid, subtropical climate, occasionally subject to both tornados and hurricanes, although the days are sunny and warm throughout much of the year.  New Orleans is famous for its Mardi Gras celebration.  Mardi Gras, which means Fat Tuesday, is celebrated every year before Ash Wednesday and  draws hundreds of thousands of tourists.  The brightly colorful parade and carnival is also well attended by locals in the city.  Even when Mardi Gras isn't occurring, there is plenty of entertaining nightlife to be found in New Orleans's French Quarter or Bourbon Street. 

 To learn more about homeownership in Louisiana or research LA home buying programs, visit the Louisiana HUD portal.

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