Minnesota Mortgage and Refinance Rates

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Current Minnesota Mortgage Rates

Average market rates for April 17, 2024 in Minnesota are 7.29% for 30-year fixed purchase and 7.34% for 30-year fixed refinance

ProductRateAPR
30-year Fixed Purchase7.29%7.32%
30-year Fixed Refinance7.34%7.37%
Rates based on market averages as of Apr 16, 2024.
ProductRateAPR
30-year Fixed Purchase7.29%7.32%
30-year Fixed Refinance7.34%7.37%
Rates based on market averages as of Apr 16, 2024.

Minnesota Purchase Rates

ProductRateAPR
15-year Fixed Purchase6.47%6.51%
15-year Fixed Jumbo Purchase7.12%7.17%
30-year Fixed Purchase7.29%7.32%
30-year Fixed Jumbo Purchase7.13%7.16%
Rates based on market averages as of Apr 16, 2024.

Minnesota Refinance Rates

ProductRateAPR
15-year Fixed Refinance6.46%6.51%
15-year Fixed Jumbo Refinance7.15%7.19%
30-year Fixed Refinance7.34%7.37%
30-year Fixed Jumbo Refinance7.13%7.16%
Rates based on market averages as of Apr 16, 2024.

Minnesota ARM Rates

ProductRateAPR
5/6 Arm (purchase)7.67%7.72%
5/6 Arm (refinance)7.69%7.74%
5/6 Jumbo Arm (purchase)6.99%7.00%
5/6 Jumbo Arm (refinance)7.01%7.02%
Rates based on market averages as of Apr 16, 2024.

How we source rates and rate trends

Most Common Mortgage Types in Minnesota

  • Conventional: 63,117 loans
  • FHA: 7,679 loans
  • USDA: 1,006 loans
  • VA: 3,813 loans

Top Purchase Lenders in Minnesota by Volume

  • Bell Bank: 5,289 loans
  • Crosscountry Mortgage, LLC: 3,146 loans
  • Fairway Independent Mortgage Corporation: 2,704 loans
  • Wells Fargo Bank: 2,392 loans
  • Prosperity Home Mortgage, LLC: 2,114 loans
  • U.S. Bank: 2,077 loans
  • Broker Solutions, Inc.: 1,935 loans
  • Loandepot.com, LLC: 1,653 loans
  • Alerus Financial: 1,547 loans
  • Rocket Mortgage, LLC: 1,543 loans

Top Refinance Lenders in Minnesota by Volume

  • Affinity Plus: 3,320 loans
  • U.S. Bank: 1,888 loans
  • Trustone Financial Federal Credit Union: 927 loans
  • Wells Fargo Bank: 684 loans
  • Rocket Mortgage, LLC: 640 loans
  • Bell Bank: 573 loans
  • Wings Financial Credit Union: 406 loans
  • Bremer Bank: 404 loans
  • Merchants Bank: 363 loans
  • Pennymac Loan Services, LLC: 356 loans

Top Cash-Out Refinance Lenders in Minnesota by Volume

  • Rocket Mortgage, LLC: 2,915 loans
  • Wells Fargo Bank: 1,344 loans
  • Loandepot.com, LLC: 685 loans
  • Nationstar Mortgage LLC: 684 loans
  • U.S. Bank: 683 loans
  • Freedom Mortgage Corporation: 576 loans
  • Pennymac Loan Services, LLC: 468 loans
  • Flagstar Bank, Fsb: 432 loans
  • Wings Financial Credit Union: 432 loans
  • The Huntington National Bank: 406 loans

How we source lender data

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