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Mortgage rates in Wyoming

They typically hover around the national average.

Updated

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 Wyoming

Interest rates in Wyoming average 4.438% and are expected to stay below 4% in the upcoming year. But since they’ve been known to jump above and below the national average from year to year, keep a close eye on them if you’re gearing up to purchase a home.

How much do Wyoming rates vary?

Wyoming mortgage rates spanned from 4.289% to 4.687% for 30-year loans, and from 3.905% to 4.397% for 15-year terms in 2018. A few criteria, such as loan type, can impact your interest rate. For example, government-insured loans generally have a lower interest rate than conventional loans, but may also come with more rigid borrower and property rules.

2018 average rates in Wyoming by loan type

Loan type15-year average rate30-year average rate

Conventional4.397%4.687%
FHA4.057%4.417%
VA3.905%4.359%
USDANot available4.289%

Based on data from ffiec.cfpb.gov.

To illustrate, imagine you had a $185,000 30-year conventional loan with the 2018 average mortgage rate of 4.687%. Your monthly mortgage might be around $960, excluding taxes and fees. But if you opted for a 15-year conventional loan with the 2018 average mortgage rate of 4.397%, your monthly bill might jump to $1,410.

The shorter loan term and lower interest rate could translate to an overall savings of approximately $91,900 over the course of the loan.

Average mortgage rates in Wyoming should hold steady in the mid to upper 3% range in the coming year.

Interest rates in Wyoming historically hopscotch around the national average. In the past decade, four years were below the rest of the country, while six years performed higher. For example, in 2016, the average mortgage rate was 0.04% lower than the national average, while rates were 0.09% and 0.07% higher in 2017 and 2018, respectively.

Housing agencies nationwide predict 30-year rates to range from 3.55% to 3.90% in 2020.

Compare mortgage rates throughout Wyoming

Average mortgage rates and median loan amounts vary by region in the Equality State. Weston County had the highest average interest rate, while Teton County had the highest median loan amount in 2018.

We sifted through data from the Home Mortgage Disclosure Act to calculate what you might pay
on the average 30-year fixed-rate mortgage in various counties in Wyoming, excluding taxes and fees.

CountyAverage mortgage rateMedian loan amountEstimated monthly cost

Albany County4.613%$215,000$1,100
Big Horn County4.592%$165,000$850
Campbell County4.387%$205,000$1,020
Carbon County4.584%$175,000$900
Converse County4.545%$185,000$940
Crook County4.507%$185,000$940
Fremont County4.557%$185,000$940
Goshen County4.600%$145,000$740
Hot Springs County4.588%$165,000$840
Johnson County4.463%$195,000$980
Laramie County4.482%$235,000$1,190
Lincoln County4.668%$235,000$1,210
Natrona County4.465%$205,000$1,030
Niobrara County4.524%$165,000$840
Park County4.509%$205,000$1,040
Platte County4.503%$165,000$840
Sheridan County4.410%$225,000$1,130
Sublette County4.696%$215,000$1,110
Sweetwater County4.647%$215,000$1,110
Teton County4.391%$570,000$2,850
Uinta County4.789%$175,000$920
Washakie County4.560%$145,000$740
Weston County4.803%$145,000$760

Based on data from ffiec.cfpb.gov.

How to get the best mortgage rate in Wyoming

A few tips to help you get the most competitive rate:

  1. Learn about different loan programs. Lenders offer a variety of loan types, each with their own interest rates. See what loan programs you may qualify for to compare rates.
  2. Build up your credit profile. Pay down debts and raise your credit score to help you qualify for the best rates.
  3. Account for closing costs. Closing costs in Wyoming generally range between 1.25% and 1.87% of the purchase price. Weigh these charges against your interest rate to see the total cost of your mortgage.

Historical mortgage interest rates in Wyoming

Bottom line

Wyoming mortgage rates tend to dance around the national average. As average mortgage rates are forecasted to hold below the 4% level in 2020, mortgage rates in Wyoming will likely do the same. Shop around to compare loan types and lenders to find the right loan for you and your unique situation.

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