Mississippi Mortgage Rates Today — Compare MS Lenders
The average 30-year fixed mortgage rate in Mississippi is currently 6.44% APR. Mississippi has the lowest median home prices of any US state, making homeownership highly accessible even at current rates. Compare today’s rates from top Mississippi lenders across all major loan types below.
Mississippi Mortgage Rate Comparison Table
Rates below assume a 740+ credit score, 20% down payment, and a $200,000 loan on a single-family primary residence in Mississippi.
| Loan Type | Interest Rate | APR | Best For |
|---|---|---|---|
| 30-Year Fixed | 6.44% | 6.44% | Most Popular |
| 15-Year Fixed | 5.79% | 5.79% | Pay off faster, save interest |
| 5/1 ARM | 6.56% | 6.56% | Short-term owners |
| FHA 30-Year | 6.12% | 6.12% | Low down payment |
| VA 30-Year | 5.96% | 5.96% | Veterans & military |
| 30-Year Refinance | 6.56% | 6.56% | Existing homeowners |
Rates sourced from lender survey data and updated regularly. Actual rates vary by lender and borrower profile. See disclaimer.
Understanding Mortgage Rates in Mississippi
Mississippi offers the most affordable home prices in the US, making homeownership accessible even at higher interest rates. The Gulf Coast has seen significant investment and development in recent years. Mississippi Home Corporation offers assistance programs for first-time buyers.
The Oxford area — home of the University of Mississippi — has a vibrant housing market. The Gulf Coast provides vacation and retirement appeal with competitive home prices.
What Affects Your Mississippi Mortgage Rate?
Several key factors influence the rate a Mississippi lender will offer you: your credit score (740+ gets the best rates), your down payment (20%+ eliminates PMI), your loan type (VA and FHA often beat conventional), and broader market conditions driven by the Federal Reserve and Treasury yields. Always compare at least 3–5 lenders — the spread between best and worst rate can be 0.5–1.0%.