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Mortgage rates in Wisconsin

They’ve generally been above the national average since 1985.

30-year mortgages in the Badger State average 4.774% and are expected to stay below 4% in the upcoming year.

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Compare these lenders and lender marketplaces by the type of home loan you're searching for, state availability and minimum credit score (for a conventional loan). Select See rates to provide the company with basic property and financial details for personalized rates.
Name Product Loan products offered State availability Min. credit score
Morty
(NMLS #1429243)
Morty
Conventional, Jumbo, Refinance
AL, AR, CA, CO, CT, DC, DE, FL, GA, IA, ID, IL, IN, KS, KY, MD, ME, MI, MN, MS, MT, NC, NE, NJ, NM, OH, OK, OR, PA, SC, TN, VA, WA, WI, WV
660
Preapproval in minutes and closing in as little as 3 weeks with no origination fees.
SoFi
(NMLS #1121636)
SoFi
Conventional, Home equity, Refinance
Not available in: HI, MO, NM, NY, WV
620
No hidden fees, multiple loan terms, and member discounts available.
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.
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.
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 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

Conventional4.303%4.691%
FHA4.162%4.920%
VA4.036%4.671%
USDAN/A4.815%

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.

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

Appleton4.725%$155,000$810
Duluth MSA (Douglas County)4.761%$135,000$710
Eau Claire4.745%$155,000$810
Fond du Lac4.805%$135,000$710
Green Bay4.703%$165,000$860
Janesville-Beloit4.798%$145,000$760
La Crosse MSA (La Crosse County)4.759%$175,000$910
Chicago MSA (Kenosha County)4.777%$165,000$860
Madison4.568%$225,000$1,150
Milwaukee-Waukesha4.721%$195,000$1,010
Minneapolis MSA (Pierce and St. Croix Counties)4.709%$215,000$1,120
Oshkosh-Neenah4.732%$145,000$750
Racine4.815%$165,000$870
Sheboygan4.741%$145,000$760
Wausau-Weston4.786%$145,000$760

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:

  1. 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.
  2. 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.
  3. 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

Bottom line

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

What state homeownership programs does Wisconsin support?
The Wisconsin Housing and Economic Development Authority (WHEDA) offers a number of loan programs to help make homeownership more affordable.

  • WHEDA Advantage Conventional. A 30-year fixed-rate loan with the lowest monthly mortgage payments with downpayment and closing cost assistance.
  • First-Time Homebuyers (FTHB) Advantage. Fixed interest rates below the standard conventional rate for first-time homebuyers, veterans or homebuyers purchasing in a target area.
  • Veterans Affordable Loan Opportunity Rate (VALOR). A fixed-rate mortgage priced below the conventional rate for qualified veterans.
  • WHEDA FHA Advantage. A 30-year fixed-rate mortgage with low closing costs and flexible underwriting for borrowers with a minimum credit score of 640.

Where can I find a homebuyer education course in Wisconsin?
WHEDA’s website has a list of local homebuyer counseling agencies and approved mortgage insurance companies that offer homebuyer education courses for first-time homebuyers.

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