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Mississippi Mortgage Rates

Updated: July 15, 2024

Compare today's rates for Mortgage Refinance in MS

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Mortgage rates for Mississippi go down to 3.00%

Monday, July 15, 2024

Mortgage rates for Mississippi 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 Mississippi is now at 4.56%.

If you are looking for up to the minute Mississippi 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 Mississippi. Talk to multiple mortgage lenders in MS to compare rate quotes and understand your options.

Mississippi 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 Mississippi

The loan types available in Mississippi 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.

Mississippi Flag

About Mississippi

Mississippi is located in what is called the Deep South.  The state takes its name from the Mississippi River, which runs along its western border.  Residents experience humid summers and mild winters.  Due to the state's proximity to the Gulf of Mexico, hurricanes are also of concern.

Mississippi has become a musical hotbed for gospel, blues, jazz and country music.  While Mississippians may rank lowest in per capita income, they rank highest in per capita charitable contributions.  Jackson is the capital of the state and also the most populated city in Mississippi, with other major cities including Gulfport and Biloxi.  If you like the Southern way of life and exploring areas significant to national history, Mississippi may be a good place to call home.

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

If you want to continue learning more about the options available to you, simply click on any of the following links to further your knowledge.

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