Finder is committed to editorial independence. While we receive compensation when you click links to partners, they do not influence our opinions or reviews. Learn how we make money.
Mortgage rates in Wisconsin
They’ve generally been above the national average since 1985.
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.
30-year mortgages in the Badger State average 4.774% and are expected to stay below 4% in the upcoming year.
How much do Wisconsin rates vary?
Average Wisconsin mortgage rates ranged from 4.671% to 4.815% for 30-year loans in 2018. 15-year loans saw average rates between 4.036% and 4.303%. A few different factors, such as your credit history, the type of loan you choose and how long you keep your loan, can affect your interest rate.
2018 average rates in Wisconsin by loan type
Loan type15-year average rate30-year average rate
Based on data from ffiec.cfpb.gov.
To give you an idea of what a difference in interest rate and loan term can mean, consider a $155,000 30-year mortgage with the 2018 average rate of 4.691%. The monthly payment might run you about $800 before taxes and fees.
On the other hand, a 15-year mortgage with the 2018 average rate of 4.303% might have a monthly payment of $1,170. A lower interest rate and shorter loan term may have a higher monthly cost, but could also save you $78,460 in interest payments over the life of the loan.
Which way are rates trending in Wisconsin?
Average Wisconsin mortgage rates should hold steady in the upper 3% range.
Before 1999, Wisconsin mortgage rates were considerably higher than the national average, averaging 0.21% higher between 1983 and 1999. After 1999, mortgage rates in Wisconsin began to level out and better align with the rest of the country by coming in only slightly higher than the national rate. In 2017, Wisconsin rates were only 0.03% higher than the US rate and 0.10% higher in 2018.
Housing authorities predict that the US 30-year rate will average about 3.7% in the upcoming year. We can likely expect Wisconsin mortgage rates to come in slightly higher than 3.7% in 2020.
Compare mortgage rates throughout Wisconsin
The Badger State has many metropolitan areas, each with a slightly different average interest rate and median loan amount.
We studied data from the Home Mortgage Disclosure Act to give you a rough idea of what homebuyers in different metropolitan areas in Wisconsin might pay on the average 30-year fixed-rate mortgage. These amounts don’t include taxes and fees unique to your mortgage.
Metropolitan statistical area (MSA)Average mortgage rateMedian loan amountEstimated monthly cost
|Duluth MSA (Douglas County)||4.761%||$135,000||$710|
|Fond du Lac||4.805%||$135,000||$710|
|La Crosse MSA (La Crosse County)||4.759%||$175,000||$910|
|Chicago MSA (Kenosha County)||4.777%||$165,000||$860|
|Minneapolis MSA (Pierce and St. Croix Counties)||4.709%||$215,000||$1,120|
Based on data from ffiec.cfpb.gov.
How to get the best mortgage rate in Wisconsin
A few strategies to help you get the best rate possible:
- Investigate different loan programs. Lenders offer a variety of loan programs with different rates. Find out what loans and mortgage rates you may qualify for.
- Beef up your credit. Lenders often give the best rates to borrowers with good to excellent credit. Help raise your credit score by paying down debts and paying your bills on time.
- Consider closing costs. Wisconsin homebuyers can expect about 1.33% to 2.67% of the final purchase price in closing costs. Weigh the closing costs against your interest rate to see the real cost of your mortgage.
Historical mortgage interest rates in Wisconsin
Wisconsin mortgage rates have leveled out in the past 20 years and are now consistently a hair above the national average. But since lenders have the last say on your interest rate, compare mortgages and lenders to make sure you’re getting the best rate on your home loan.
Frequently asked questions
Ask an Expert