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Missouri Mortgage Rates

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Use SmartAsset's mortgage rate comparison tool to compare mortgage rates from the top lenders and find the one that best suits your needs.

Overview of Missouri Mortgages

Missouri, the Show-Me State, is famous for its rich history, river towns and wide-open plains. For those wanting to move there, Missouri mortgage rates are a little above average. Missouri counties’ conforming loan limits remain standard, with only slight variation in FHA limits.

Today's Mortgage Rates in Missouri

Product Today Last Week Change
30 year fixed 5.99% 5.99% 0.00
15 year fixed 5.38% 5.38% 0.00
5/1 ARM 7.00% 7.00% 0.00
30 yr fixed mtg refi 6.38% 6.38% 0.00
15 yr fixed mtg refi 5.50% 5.50% 0.00
7/1 ARM refi 6.88% 6.88% 0.00
15 yr jumbo fixed mtg refi 3.19% 3.24% -0.05

National Mortgage Rates

Source: Freddie Mac Primary Mortgage Market Survey, SmartAsset Research
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Historical Mortgage Rates in Missouri

Photo Credit: ©iStock.com/alex grichenko

Missouri Mortgage Rates Quick Facts

  • Median Home Value: $198,300 (U.S. Census Bureau)
  • Loan Funding Rate: 58.44% (CFPB)
  • Homeownership Rate: 72.8% (St. Louis Fed)
  • Median Monthly Homeownership Costs: $1,343 (U.S. Census Bureau)

Missouri is home to top-notch colleges and universities, St. Louis and the iconic Gateway Arch and the family-friendly vacation destination, Branson. Grassy plains give way to the Ozark Mountains, and the mighty Mississippi River flows near its border with Illinois. This Midwest state is average in terms of both size and population. Historically, Missouri mortgage rates have come in equal to or slightly higher than average rates for the rest of the nation.

A financial advisor in Missouri can help you plan for the homebuying process. Financial advisors can also help with investing and financial plans, including tax, retirement and estate planning, to make sure you are preparing for the future.

Missouri Historic Mortgage Rates*

YearMissouri RateU.S. Rate
20007.997.86
20017.036.94
20026.626.44
20035.845.67
20045.935.68
20055.905.85
20066.476.54
20076.486.42
20086.146.06
20095.095.05
20105.024.81
20114.554.56
20123.703.65
20133.813.84
20144.154.13
20153.853.88
20163.693.73
20174.074.03
20184.584.56

*The FHFA stopped reporting new data in 2018.

Missouri Mortgages Overview

Traditionally, Midwestern states have more affordable real estate prices than homes on the coast; Missouri's market follows that rule.

Every county in the state has a standard conforming loan limit of $726,200. Every county has a standard FHA limit of $472,030 as well. The conforming and FHA loan limits in Missouri are a reflection of the general affordability of homes in the state.

Conforming and FHA Loan Limits by County

CountyConforming LimitFHA Limit
Adair$726,200$472,030
Andrew$726,200$472,030
Atchison$726,200$472,030
Audrain$726,200$472,030
Barry$726,200$472,030
Barton$726,200$472,030
Bates$726,200$472,030
Benton$726,200$472,030
Bollinger$726,200$472,030
Boone$726,200$472,030
Buchanan$726,200$472,030
Butler$726,200$472,030
Caldwell$726,200$472,030
Callaway$726,200$472,030
Camden$726,200$472,030
Cape Girardeau$726,200$472,030
Carroll$726,200$472,030
Carter$726,200$472,030
Cass$726,200$472,030
Cedar$726,200$472,030
Chariton$726,200$472,030
Christian$726,200$472,030
Clark$726,200$472,030
Clay$726,200$472,030
Clinton$726,200$472,030
Cole$726,200$472,030
Cooper$726,200$472,030
Crawford$726,200$472,030
Dade$726,200$472,030
Dallas$726,200$472,030
Daviess$726,200$472,030
De Kalb$726,200$472,030
Dent$726,200$472,030
Douglas$726,200$472,030
Dunklin$726,200$472,030
Franklin$726,200$472,030
Gasconade$726,200$472,030
Gentry$726,200$472,030
Greene$726,200$472,030
Grundy$726,200$472,030
Harrison$726,200$472,030
Henry$726,200$472,030
Hickory$726,200$472,030
Holt$726,200$472,030
Howard$726,200$472,030
Howell$726,200$472,030
Iron$726,200$472,030
Jackson$726,200$472,030
Jasper$726,200$472,030
Jefferson$726,200$472,030
Johnson$726,200$472,030
Knox$726,200$472,030
Laclede$726,200$472,030
Lafayette$726,200$472,030
Lawrence$726,200$472,030
Lewis$726,200$472,030
Lincoln$726,200$472,030
Linn$726,200$472,030
Livingston$726,200$472,030
Mcdonald$726,200$472,030
Macon$726,200$472,030
Madison$726,200$472,030
Maries$726,200$472,030
Marion$726,200$472,030
Mercer$726,200$472,030
Miller$726,200$472,030
Mississippi$726,200$472,030
Moniteau$726,200$472,030
Monroe$726,200$472,030
Montgomery$726,200$472,030
Morgan$726,200$472,030
New Madrid$726,200$472,030
Newton$726,200$472,030
Nodaway$726,200$472,030
Oregon$726,200$472,030
Osage$726,200$472,030
Ozark$726,200$472,030
Pemiscot$726,200$472,030
Perry$726,200$472,030
Pettis$726,200$472,030
Phelps$726,200$472,030
Pike$726,200$472,030
Platte$726,200$472,030
Polk$726,200$472,030
Pulaski$726,200$472,030
Putnam$726,200$472,030
Ralls$726,200$472,030
Randolph$726,200$472,030
Ray$726,200$472,030
Reynolds$726,200$472,030
Ripley$726,200$472,030
St Charles$726,200$472,030
St Clair$726,200$472,030
Ste Genevieve$726,200$472,030
St Francois$726,200$472,030
St Louis$726,200$472,030
St Louis City$726,200$472,030
Saline$726,200$472,030
Schuyler$726,200$472,030
Scotland$726,200$472,030
Scott$726,200$472,030
Shannon$726,200$472,030
Shelby$726,200$472,030
Stoddard$726,200$472,030
Stone$726,200$472,030
Sullivan$726,200$472,030
Taney$726,200$472,030
Texas$726,200$472,030
Vernon$726,200$472,030
Warren$726,200$472,030
Washington$726,200$472,030
Wayne$726,200$472,030
Webster$726,200$472,030
Worth$726,200$472,030
Wright$726,200$472,030

Missouri is a deed of trust state. This means when you buy a home in Missouri, the document you sign is a deed of trust instead of a mortgage. The main difference with a deed of trust is that it allows lenders who want to foreclose on a home to bypass the court system when doing so. Instead the lender can initiate a power of sale foreclosure by hiring a third party to auction the home.

Missouri has real estate disclosure laws, meaning the seller must disclose what defects they know about the property. Naturally, that’s a positive for buyers. But it’s always best to opt for a home inspection before officially closing on your home to guard against any unexpected surprises once the property is yours.

30-Year Fixed Mortgage Rates in Missouri

Most homebuyers opt for a 30-year fixed-rate mortgage. This reliable option gives buyers a long period of time to pay off their loan. Because the mortgage rate remains the same for the duration of the loan, the monthly payments hold steady too.

You can also consider a 15-year fixed-rate mortgage which allows you to pay off your loan in a shorter period of time and has a lower interest rate, but the drawback of this is that your monthly payments will be higher.

The average Missouri rate for a fixed 30-year mortgage is 6.08% (Zillow, Jan. 2023).

Missouri Jumbo Loan Rates

Missouri homes hit right about average with the rest of the country, so the conventional loan limit holds steady at $726,200 in every county. A jumbo loan is any home loan that is higher than that limit. Conforming loan limits exist because issuing a loan beyond that price presents a bigger risk for lenders. As a result, jumbo loans come with higher interest rates to offset that risk. However, it's important to note that jumbo loan rates are currently lower than fixed rates.

The average 30-year fixed jumbo loan rate in Missouri is 5.52% (Zillow, Jan. 2023).

Missouri ARM Loan Rates

Another mortgage choice is an adjustable-rate mortgage (ARM). An ARM is a mortgage that does exactly as its name tells you – it has an interest rate that “adjusts” or changes over time. The main attraction of an ARM is that is offers a lower initial interest rate as compared to a fixed-rate mortgage. This low rate is available for one, three, five, seven or 10 years, depending on the loan’s terms. Once that period has come to a close, the interest rate can increase or decrease once a year, though you can usually plan on it going up.

The terms of the loan will spell out how many times the rate can change and the highest level that it can jump to. This means that you do know what you are getting into if you select an ARM. It is extremely important to check what that interest rate cap is and make sure that it is one that you can actually afford.

The average rate for a 5/1 ARM in Missouri is 5.26% (Zillow, Jan. 2023).

Missouri Mortgage Resources

Buying a home in Missouri? If you need assistance, here are some of the options that can help you at any step of the process.

The Missouri Housing Development Commission offers programs to help homebuyers secure their first home. The MHDC First Place Loan Program provides cash assistance to help first-time homebuyers get a mortgage. The Mortgage Credit Certificate program provides first-time homebuyers who are income eligible with an opportunity to lower the federal income tax owed annually, freeing up some cash to put back into the home.

Missouri’s Beyond Housing group has a homeownership center that offers education and counseling to prepare buyers for homeownership, lending services for down payment and closing cost assistance for those who are eligible and foreclosure intervention programs for at-risk homeowners.

Available Resources

ResourceProblem or IssueWho Qualifies
Missouri Housing Development CommissionOffers loan and mortgage credit certificate programs to first-time homebuyers.Qualifying first-time homebuyers.
Beyond HousingHomebuyer education and counseling, down payment and closing cost assistance and foreclosure intervention.First-time homebuyers and other qualifying homebuyers, depending on the program.
USDA Rural Development - Single family loansOffers payment assistance to increase an applicant’s repayment ability.Applicants must be without decent, safe and sanitary housing; Be unable to obtain a loan from other resources on terms and conditions that can reasonably be expected to meet; Agree to occupy the property as your primary residence; Have the legal capacity to incur a loan obligation; Meet citizenship or eligible noncitizen requirements; Not be suspended or debarred from participation in federal programs.

The United States Department of Agriculture Rural Development program also offers loan help and mortgage grants throughout the entire country. The program is available in more rural areas of a state with the goal of helping with safe, affordable housing for residents. Missouri has grants and loans available for home repairs as well as loan assistance programs for those who qualify.

Missouri Mortgage Taxes

There are no transfer taxes on real estate transactions in Missouri. That means neither the buyer or seller will have to pay this type of tax at closing.

Missouri homeowners who itemizes deductions on federal income taxes can double the mortgage interest deduction by applying it to both federal and state income tax filings.

Missouri Mortgage Refinance

Refinancing can help cut thousands of dollars off of your overall mortgage. If you’re hoping to refinance your Missouri home, the Home Affordable Refinance Program (HARP) is no longer available to you. However, Fannie Mae's High Loan-to-Value Refinance Option is a viable alternative.