Compare today’s Oregon mortgage rates |

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Mortgage rates in Oregon

You might see rates for your next home that are lower than 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 Oregon

You can expect rates in the Beaver State to fall along with the national average into 2020. If you can qualify for a loan program that’s subsidized by the government, you might see less than 4%.

Compare mortgage lenders

Compare top brands by home loan type, state availability and credit score. Select See rates to provide the lender with basic property and financial details for personalized rates.
Name Product Loan products offered State availability Min. credit score
(NMLS #330511)
Conventional, Jumbo, FHA, Refinance
Not available in: HI, MA, MN, NV, NH, VT, VA
Online preapproval in minutes and no origination fees with this direct lender.
Axos Bank
(NMLS #524995)
Axos Bank
Conventional, Jumbo, FHA, VA, Home Equity/HELOC, Refinance
Available in all states
Purchase, refinance, and home equity options available with lender fees as low as $0 (restrictions apply).
Rocket Mortgage
(NMLS #3030)
Rocket Mortgage
Conventional, Jumbo, FHA, VA, Refinance
Available in all states
Streamline your mortgage from quote to final payment — all from your computer or phone.
(NMLS #1121636)
Conventional, Home equity, Refinance
Not available in: AK, HI, MO, NH, NM, NY, SD, WV
No hidden fees, multiple loan terms, and member discounts available.
(NMLS #1136)
Conventional, Jumbo, FHA, VA, USDA, Home Equity, HELOC, Reverse, Refinance
Available in all states
Connect with vetted home loan lenders quickly through this online marketplace.

Compare up to 4 providers

How much do Oregon rates vary?

The average rate for a 30-year fixed-rate mortgage in Oregon ranged from 4.572% to 4.594% in 2018. Lenders weigh many variables when determining your rate, such your overall creditworthiness and type of loan you’re applying for.

Most homebuyers go for a conventional loan, which is easy to qualify for. But VA and other government-backed loans can save you interest and don’t require as high a down payment at closing if you or your home can qualify.

2018 average rates in Oregon by loan

Loan type15-year average rate30-year average rate
USDANot available4.572%

Rates based on data from

Say that you’re a veteran and qualify for a 30-year VA loan to buy a house that’s valued at $155,000. At the 2018 average mortgage rate of 4.616%, you might end up paying around $800 a month. Compare that to a 30-year conventional loan with a rate of 4.794%, which comes with monthly payments of $810.

The $10 monthly difference between these two loans may sound like peanuts, but you’d save $5,970 in total interest by qualifying for a VA loan.

Rates in the Beaver State are expected to stay below 4% into 2020.

US housing agencies are calling for 30-year mortgage rates to come in between 3.55% to 3.90% in 2020. Because the 10-year trend is for Oregon’s rates to be about 0.03% lower than the rest of the country, we expect rates in the mid to high 3% mark.

Compare mortgage rates throughout Oregon

Mortgage rates differ slightly among metropolitan areas in Oregon, as do home values.

We thumbed through data from the Home Mortgage Disclosure Act to build out projections for 30-year fixed-rate mortgages in major metropolitan areas within Oregon. These numbers do not include taxes or fees that are specific to your loan.

Metropolitan statistical area (MSA)Average mortgage rateMedian loan amountEstimated monthly cost
Grants Pass4.749%$235,000$1,230
Portland MSA (Clackamas, Columbia, Multnomah, Washington and Yamhill Counties)4.729%$335,000$1,740

Rates and costs based on data from

How to get the best mortgage rate in Oregon

Compare your options, pay down debt and budget for total costs at closing when narrowing down the lowest rates on your next mortgage.

  1. Compare loan programs. Weigh several lenders against loans you can qualify for to find the most competitive rate on your property.
  2. Boost your credit. Commit to paying down outstanding debts to improve your debt-to-income ratio — which can help you qualify for a lower rate.
  3. Plan for closing costs. You could pay from 1.04% to 1.39% of your home sale price at closing. If your lender offers a lower rate in exchange for higher closing costs, calculate your total interest savings to make sure it’s a deal.

Historical mortgage interest rates in Oregon

Bottom line

You might pay less than the national average mortgage rates to buy a home in Oregon. But with rates that vary by loan, shop around among lenders to find the lowest rate you and your home are eligible for.

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