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Missouri Mortgage Rates

Updated: May 19, 2024

Compare today's rates for Mortgage Refinance in MO

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Mortgage rates for Missouri go down to 3.00%

Sunday, May 19, 2024

Mortgage rates for Missouri 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 Missouri is now at 4.56%.

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

Missouri 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 Missouri

The loan types available in Missouri 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.

St. Louis Arch

About Missouri

Missouri is a fantastic state in the Midwest bordered by eight other states. The majority of Missouri is nearly flat, with some gently rolling hills. Missouri's economy is kept afloat by food processing, beer, chemical processing, printing, publishing, and the aerospace industry.  Some of Missouri's exports include beef, poultry, and dairy products. 

Kansas City, Missouri, is the most populated city in the state.  The city has a population of nearly four hundred and fifty thousand residents and is known for its extraordinary arrays of fountains. Other major Missouri cities include Saint Louis, Springfield, and Independence.

Kansas City is home for four Fortune 500 companies.  If you are looking for a comfortable Midwestern state that has proud culture and history, you should become a homeowner in Missouri.

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

If you’d prefer to keep reading up on your mortgage options, click on any of the links below.

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