Tennessee Mortgage and Refinance Rates

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Current Tennessee Mortgage Rates

Average market rates for May 24, 2024 in Tennessee are 7.04% for 30-year fixed purchase and 7.12% for 30-year fixed refinance

ProductRateAPR
30-year Fixed Purchase7.04%7.06%
30-year Fixed Refinance7.12%7.15%
Rates based on market averages as of May 23, 2024.
ProductRateAPR
30-year Fixed Purchase7.04%7.06%
30-year Fixed Refinance7.12%7.15%
Rates based on market averages as of May 23, 2024.

Tennessee Purchase Rates

ProductRateAPR
15-year Fixed Purchase6.24%6.29%
15-year Fixed Jumbo Purchase6.81%6.84%
30-year Fixed Purchase7.04%7.06%
30-year Fixed Jumbo Purchase7.52%7.54%
Rates based on market averages as of May 23, 2024.

Tennessee Refinance Rates

ProductRateAPR
15-year Fixed Refinance6.24%6.29%
15-year Fixed Jumbo Refinance6.81%6.84%
30-year Fixed Refinance7.12%7.15%
30-year Fixed Jumbo Refinance7.55%7.58%
Rates based on market averages as of May 23, 2024.

Tennessee ARM Rates

ProductRateAPR
5/6 Arm (purchase)7.47%7.50%
5/6 Arm (refinance)7.59%7.62%
5/6 Jumbo Arm (purchase)6.89%6.89%
5/6 Jumbo Arm (refinance)6.95%6.95%
Rates based on market averages as of May 23, 2024.

How we source rates and rate trends

Most Common Mortgage Types in Tennessee

  • Conventional: 67,968 loans
  • VA: 10,455 loans
  • FHA: 13,457 loans
  • USDA: 2,810 loans

Top Purchase Lenders in Tennessee by Volume

  • Mortgage Investors Group, Inc.: 5,139 loans
  • Rocket Mortgage, LLC: 3,447 loans
  • Mortgage Research Center, LLC: 2,844 loans
  • Movement Mortgage, LLC: 2,828 loans
  • Cmg Mortgage, Inc.: 2,546 loans
  • First Community Mortgage, Inc.: 2,507 loans
  • Firstbank: 2,280 loans
  • Regions Bank: 1,753 loans
  • Loandepot.com, LLC: 1,730 loans
  • Pinnacle Bank: 1,728 loans

Top Refinance Lenders in Tennessee by Volume

  • Regions Bank: 1,330 loans
  • First Horizon Bank: 1,025 loans
  • Rocket Mortgage, LLC: 997 loans
  • U.S. Bank: 739 loans
  • Pennymac Loan Services, LLC: 542 loans
  • Firstbank: 498 loans
  • Truist Bank: 489 loans
  • Unknown: 480 loans
  • Cadence Bank: 441 loans
  • Wilson Bank And Trust: 364 loans

Top Cash-Out Refinance Lenders in Tennessee by Volume

  • Rocket Mortgage, LLC: 7,727 loans
  • Loandepot.com, LLC: 1,844 loans
  • Freedom Mortgage Corporation: 1,620 loans
  • Pennymac Loan Services, LLC: 1,532 loans
  • Nationstar Mortgage LLC: 1,472 loans
  • Amerisave Mortgage Corporation: 915 loans
  • Wells Fargo Bank: 801 loans
  • Ascend Federal Credit Union: 757 loans
  • Knoxville Tva Employees Credit Union: 691 loans
  • First Community Mortgage, Inc.: 684 loans

How we source lender data

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