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Mortgage rates in Connecticut

Rates generally match or are just under the national average.


Fact checked

Mortgage rates during the coronavirus

As mortgage rates fall to record lows in the wake of COVID-19, our partners are seeing an increase in demand for loans and refinancing. As they work through this influx of applications, you may see rates that are higher than expected — or no rates at all. We recommend comparing offers from multiple lenders to ensure you're getting the best deal possible.

Compare mortgage lenders in Connecticut

30-year mortgages in the Constitution State average 4.600% across conventional and government-backed loans. And interest rates should stay around this range in the upcoming year.

How much do Connecticut rates vary by loan?

Average mortgage rates for a 30-year home loan in Connecticut ranged between 4.513% to 4.627% in 2018. The type of loan and the loan term you choose can affect your mortgage rate. For example, a 15-year mortgage generally has a lower interest rate than a 30-year term.

2018 average rates in Connecticut by loan type

Loan type15-year average rate30-year average rate
USDANot available4.627%

Based on data from

To illustrate, let’s say you have a $205,000 mortgage. A 30-year conventional loan with an interest rate of 4.602% might cost $1,051.17 a month, excluding property tax, home insurance, and other fees specific to your mortgage. On the other hand, if you can afford a higher monthly payment, a 15-year loan might run you $1,531.51. You’ll pay more monthly, but you’ll save $102,748.71 in interest over the course of the loan.

Mortgage rates in Connecticut should hover around 4% into 2020.

Since 1984, mortgage rates in Connecticut have typically matched or come in slightly lower than the national average. According to Bankrate’s chief financial analyst, Greg McBride, CFA, the benchmark 30-year rate hovers around the 4% mark. And nationwide housing agencies expect national rates to average 3.70% in 2020. That means Connecticut should match or even come in slightly under for 2020.

Compare mortgage rates throughout Connecticut

Mortgage rates and home values in Connecticut vary from city to city — affecting what you pay each month.

We used data from the Home Mortgage Disclosure Act to figure out what you might pay on a 30-year fixed-rate mortgage in different metropolitan areas in Connecticut. Rates and amounts do not consider PMI, taxes, fees or costs specific to your mortgage.

Metropolitan statistical area (MSA)Average mortgage rateMedian loan amountEstimated monthly cost
Hartford-East Hartford-Middletown4.584%$205,000$1,050
New Haven-Milford4.685%$205,000$1,060
Norwich-New London4.578%$205,000$1,050
Worcester MSA (Windham County, CT)4.758%$185,000$970

Based on data from

How to get the best mortgage rate in Connecticut

Several factors go into determining your mortgage rate. A few steps you can take to try to get the best rate possible:

  1. Research loan programs. Lenders may assign different interest rates to their loan programs. Compare loan types and see which programs you may qualify for.
  2. Improve your borrowing profile. The most attractive borrowers have good credit scores and low debt-to-income ratios.
  3. Calculate the closing costs. To close on your loan, you’ll need to pay a set of closing costs. Lenders charge fees that typically range between 0.96% to 1.28% of the final home sales price.

Historical mortgage interest rates in Connecticut

Bottom line

Connecticut mortgage rates generally come in or below the national average. Compare a few mortgage lenders to check interest rates, loan programs and closing costs so you can get the best terms for your home loan.

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