Alabama Mortgage and Refinance Rates

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Current Alabama Mortgage Rates

The average mortgage rates in Alabama for September 24, 2023 are 6.976% for purchasing a home and 7.086% for refinancing a home.

Mortgage TypeRate (%)
30 Year Fixed Purchase6.976
30 Year Fixed Refinance7.086

30-Day Rate Trend in Alabama

Alabama Purchase Rates

Mortgage TypeRate (%)
15 Year Fixed Purchase6.194
15 Year fixed Jumbo Purchase7.412
30 Year Fixed Purchase6.976
30 Year Fixed Jumbo Purchase7.35

Alabama Refinance Rates

Mortgage TypeRate (%)
15 Year Fixed Refinance6.189
15 Year fixed Jumbo Refinance7.535
30 Year Fixed Refinance7.086
30 Year Fixed Jumbo Refinance7.381

Alabama ARM Rates

Mortgage TypeRate (%)
5/6 ARM SOFR Purchase7.063
5/6 ARM SOFR Refinance7.154
5/6 ARM Jumbo SOFR Purchase6.633
5/6 ARM Jumbo SOFR Refinance6.667

Most Common Mortgage Types in Alabama

  • Conventional: 42,410 loans
  • FHA: 12,342 loans
  • VA: 9,585 loans
  • USDA: 2,384 loans

Top Purchase Lenders in Alabama by Volume

  • Trustmark National Bank: 3,781 loans
  • Fairway Independent Mortgage Corporation: 3,412 loans
  • Regions Bank: 2,371 loans
  • Rocket Mortgage, LLC: 2,257 loans
  • Mortgage Research Center, LLC: 2,146 loans
  • Firstbank: 1,913 loans
  • DHI Mortgage Company, Ltd.: 1,875 loans
  • Movement Mortgage, LLC: 1,806 loans
  • Renasant Bank: 1,761 loans
  • Guild Mortgage Company LLC: 1,452 loans

Top Refinance Lenders in Alabama by Volume

  • Regions Bank: 1,293 loans
  • PNC Bank: 752 loans
  • Rocket Mortgage, LLC: 752 loans
  • Redstone Federal Credit Union: 544 loans
  • Pennymac Loan Services, LLC: 468 loans
  • Cadence Bank: 389 loans
  • Trustmark National Bank: 319 loans
  • Bank Independent: 295 loans
  • Wells Fargo Bank: 291 loans
  • Freedom Mortgage Corporation: 279 loans

Top purchase and refinance lenders and usage statics are for retail (direct to consumer) lenders and made available through lender reporting from the 2022 Home Mortgage Disclosure Act (HMDA).

Alabama mortgage rate data in the charts and tables above comes from The displayed rates come from multiple providers and represent market averages. Your mortgage rate will differ based on individual factors like your credit score as well as differing loan types and terms offered by lenders.

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