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Mortgage rates in Washington

You could end up paying less in interest than other states.


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 Washington

In the past 10 years mortgage rates in Washington have come in 0.07% under the national average. You can expect rates to follow a similar trend in 2020.

Compare more mortgage lenders

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).
(NMLS #174457)
Conventional, Jumbo, FHA, VA, Home Equity, Refinance
Available in all states
Access a wide range of mortgage and home equity options in person or online with this direct lender.
(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 Washington rates vary?

Average rates in Washington for 15- and 30-year mortgages ranged between 3.990% to 4.932% in 2018. Lenders consider your credit score, loan term and type when determining your mortgage rate.

2018 average rates in Washington by loan type

Loan type 15-year average rate 30-year average rate
Conventional 4.356% 4.738%
FHA 4.151% 4.932%
VA 3.990% 4.593%
USDA Not available 4.631%

Rates based on data from

To see how these rates matter when it comes to your monthly payment, let’s say you qualify for a 30-year FHA loan for $275,000 at the 2018 average rate of 4.932%. This loan may have a monthly payment of $1,460, excluding taxes and fees. Opting for a shorter, 15-year FHA loan at a rate of 4.151% could increase your monthly payment to about $2,050.

If you can afford a higher monthly payment with a shorter loan term, you could save nearly $158,000 in interest payments over the duration of the loan.

Mortgage rates in Washington are likely to slide under the 4% mark in 2020.

Washington mortgage rates almost always come in under the national average. In fact, in the past ten years, interest rates have averaged 0.07% lower than the rest of the country.

Housing agencies nationwide predict 30-year rates to average about 3.70%, and we can expect Washington to come in slightly under in 2020.

Compare mortgage rates throughout Washington

The Evergreen State has a healthy mix of urban and rural areas, and housing costs and interest rates depend on where you live. For example homes prices in Seattle are high, with a median price of $445,000. Homeowners in the small region of Asotin County can expect to pay more than half as much, with a median price of $180,000.

We dug deep into the Home Mortgage Disclosure Act to give you an idea of what you could expect to pay on a 30-year fixed-rate mortgage in different metropolitan areas in Washington. These numbers don’t account for extra fees or costs unique to your loan.

Metropolitan statistical area (MSA) Average mortgage rate Median loan amount Estimated monthly cost
Bellingham 4.742% $305,000 $1,590
Bremerton-Silverdale-Port Orchard 4.741% $305,000 $1,590
Kennewick-Richland 4.800% $235,000 $1,230
Lewiston MSA (Asotin County) 4.825% $180,000 $950
Longview 4.927% $235,000 $1,250
Mount Vernon-Anacortes 4.743% $285,000 $1,490
Olympia-Lacey-Tumwater 4.800% $285,000 $1,500
Vancouver MSA (Clark and Skamania Counties) 4.786% $305,000 $1,600
Seattle-Tacoma-Bellevue MSA 4.671% $445,000 $2,300
Spokane-Spokane Valley 4.770% $205,000 $1,070
Seattle-Tacoma-Bellevue 4.807% $305,000 $1,600
Walla Walla 4.781% $205,000 $1,070
Wenatchee 4.847% $275,000 $1,450
Yakima 4.871% $205,000 $1,080

Rates and costs based on data from

How to get the best mortgage rate in Washington

Here are a few methods to help you get a better rate on your next mortgage.

  1. Look at a few loan programs. There are many different loans with varying rates and qualifying criteria. Research these different options to understand what you may qualify for.
  2. Bring your credit up to speed. Borrowers with good to excellent credit typically receive the best rates from lenders. To qualify for a better rate, try paying down any existing obligations and increasing your credit score.
  3. Weigh closing costs. Some lenders charge lower mortgage rates at the price of higher closing costs. Average closing costs in Washington can run you between 0.89% and 2.93% of the home sale price. Calculate what these costs could end up adding to the overall cost of your loan.

Historical mortgage interest rates in Washington

Bottom line

While Washington rates are generally lower than the national average, specific interest rates are determined by individual lenders. Compare loan programs and lenders to make sure you are getting the best deal on your loan.

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