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Mortgage rates in Pennsylvania

The state that’s been above the national average for 10+ years.

Homeownership in Pennsylvania is historically higher than the national average, supported by mortgages across rural and metropolitan areas. For about 12 years running, mortgage rates in the Keystone State have averaged 4.651% — slightly higher than the national average. And it looks like they’ll stay around the 4% mark into 2020.

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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
SoFi
(NMLS #1121636)
SoFi
Conventional, Home equity, Refinance
Not available in: AK, HI, MO, NH, NM, NY, SD, WV
620
No hidden fees, multiple loan terms, and member discounts available.
Better
(NMLS #330511)
Better
Conventional, Jumbo, FHA, Refinance
Not available in: HI, MA, MN, NV, NH, VT, VA
620
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
620
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
620
Streamline your mortgage from quote to final payment — all from your computer or phone.
LendingTree
(NMLS #1136)
LendingTree
Conventional, Jumbo, FHA, VA, USDA, Home Equity, HELOC, Reverse, Refinance
Available in all states
620
Connect with vetted home loan lenders quickly through this online marketplace.
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How much do Pennsylvania rates vary?

Average 30-year fixed-rate mortgages in Pennsylvania ranged from 4.599% to 4.706% in 2018.

Among the factors that affect your interest rate is the type of loan you qualify for. If you can qualify for a mortgage that’s subsidized by the government, you’ll find rates that are lower than the average rate for a conventional mortgage.

2018 average rates in Pennsylvania by loan

Loan type15-year average rate30-year average rate
Conventional4.406%4.706%
FHA4.209%4.719%
VA3.973%4.599%
USDANot available4.580%

Rates based on data from ffiec.cfpb.gov.

A 30-year USDA mortgage on a rural property valued at $155,000 might run you some $790 a month at an average rate of 4.580%. A conventional loan for the same property might run you about $800 a month at a rate of 4.706%. While $10 a month doesn’t sound like a big difference, it adds up to an extra $4,210 in interest payments over the life of your loan.

Talk with a loan officer to learn whether you or your home qualifies for a government-backed homeownership program.

Rates in the Keystone State are expected to stay above 4% in 2020.

Its rates reflect a difference of about 0.05% higher than the rest of the country over the past decade.

Compare mortgage rates throughout Pennsylvania

Pennsylvania is bursting with diverse metropolitan areas. Each offers a slightly different average mortgage rate, which means borrowers in Philly will likely end up paying a higher monthly amount than for the same property in Youngstown.

We combed through data in the Home Mortgage Disclosure Act to determine what homebuyers might pay on a 30-year fixed-rate mortgage in metropolitan areas throughout Pennsylvania. These numbers do not include insurance or extra costs associated with your loan.

Metropolitan statistical area (MSA)Average mortgage rateMedian loan amountEstimated monthly cost
Allentown MSA (Carbon, Lehigh and Northampton Counties)4.817%$175,000$920
Altoona4.676%$125,000$650
Bloomsburg-Berwick4.700%$135,000$700
Chambersburg-Waynesboro4.594%$165,000$850
East Stroudsburg4.899%$155,000$820
Erie4.696%$125,000$650
Gettysburg4.663%$185,000$960
Harrisburg-Carlisle4.669%$165,000$850
Johnstown4.720%$95,000$490
Lancaster4.695%$185,000$960
Lebanon4.681%$165,000$850
Philadelphia MSA (Bucks, Chester and Montgomery Counties)4.649%$275,000$1,420
Newark MSA (Pike County)4.859%$145,000$770
Philadelphia MSA (Delaware and Philadelphia Counties)4.731%$195,000$1,010
Pittsburgh4.612%$165,000$850
Reading4.750%$165,000$860
Scranton–Wilkes-Barre4.828%$125,000$660
State College4.598%$215,000$1,100
Williamsport4.757%$145,000$760
York-Hanover4.716%$175,000$910
Youngstown MSA (Mercer County)4.725%$115,000$600

Rates and amounts based on data from ffiec.cfpb.gov.

How to get the best mortgage rate in Pennsylvania

Increase your chances of qualifying for a better rate — and better prepare for total costs — by paying down debts and shopping around:

  1. Compare loan products. Lenders assign different interest rates to its loan programs. Learn about the loans you might qualify for to better compare terms and rates.
  2. Improve your credit. Generally, the lower your debt-to-income ratio, the stronger your credit profile. Lenders often reserve their best rates for borrowers with excellent credit.
  3. Don’t forget the closing costs. You can expect closing costs in Pennsylvania to run you between 3.40% to 5.10% of the sale price of the home. Some lenders offer lower rates in exchange for higher closing costs. Weigh fees against your rate to narrow down the best mortgage for your needs.

Historical mortgage interest rates in Pennsylvania

Bottom line

Mortgage rates in Pennsylvania are typically higher than the national average, and they vary by area and lender. Compare at least three lenders to find the best rates and terms for your next mortgage.

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