Alabama Mortgage and Refinance Rates

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Current Alabama Mortgage Rates

Average market rates for May 24, 2024 in Alabama are 7.10% for 30-year fixed purchase and 7.17% for 30-year fixed refinance

ProductRateAPR
30-year Fixed Purchase7.10%7.12%
30-year Fixed Refinance7.17%7.19%
Rates based on market averages as of May 24, 2024.
ProductRateAPR
30-year Fixed Purchase7.10%7.12%
30-year Fixed Refinance7.17%7.19%
Rates based on market averages as of May 24, 2024.

Alabama Purchase Rates

ProductRateAPR
15-year Fixed Purchase6.29%6.33%
15-year Fixed Jumbo Purchase6.69%6.71%
30-year Fixed Purchase7.10%7.12%
30-year Fixed Jumbo Purchase7.31%7.34%
Rates based on market averages as of May 24, 2024.

Alabama Refinance Rates

ProductRateAPR
15-year Fixed Refinance6.28%6.33%
15-year Fixed Jumbo Refinance6.70%6.72%
30-year Fixed Refinance7.17%7.19%
30-year Fixed Jumbo Refinance7.28%7.31%
Rates based on market averages as of May 24, 2024.

Alabama ARM Rates

ProductRateAPR
5/6 Arm (purchase)7.48%7.51%
5/6 Arm (refinance)7.58%7.62%
5/6 Jumbo Arm (purchase)6.93%6.94%
5/6 Jumbo Arm (refinance)6.99%6.99%
Rates based on market averages as of May 24, 2024.

How we source rates and rate trends

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 Cash-Out Refinance Lenders in Alabama by Volume

  • Rocket Mortgage, LLC: 4,266 loans
  • Loandepot.com, LLC: 1,037 loans
  • Nationstar Mortgage LLC: 857 loans
  • Freedom Mortgage Corporation: 771 loans
  • Pennymac Loan Services, LLC: 595 loans
  • Wells Fargo Bank: 529 loans
  • Listerhill Credit Union: 384 loans
  • Amerisave Mortgage Corporation: 359 loans
  • Home Point Financial Corporation: 359 loans
  • New Day Financial, LLC: 354 loans

How we source lender data

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