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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 5.75% 6.00% -0.25
15 year fixed 4.94% 4.75% +0.19
5/1 ARM 5.88% 5.13% +0.75
30 yr fixed mtg refi 5.83% 5.75% +0.08
15 yr fixed mtg refi 4.99% 5.00% -0.00
7/1 ARM refi 5.81% 5.50% +0.31
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: $168,000 (U.S. Census Bureau)
  • Loan Funding Rate: 58.98% (CFPB)
  • Homeownership Rate: 71.1% (St. Louis Fed)
  • Median Monthly Homeownership Costs: $1,277 (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 $647,200. Only a handful of counties have FHA loan limits different than the standard. The conforming and FHA loan limits in Missouri is a reflection of the general affordability of homes in the state.

Conforming and FHA Loan Limits by County

CountyConforming LimitFHA Limit
Adair$647,200$420,680
Andrew$647,200$420,680
Atchison$647,200 $420,680
Audrain$647,200 $420,680
Barry$647,200 $420,680
Barton$647,200 $420,680
Bates$647,200 $431,250
Benton$647,200 $420,680
Bollinger$647,200 $420,680
Boone$647,200 $420,680
Buchanan$647,200 $420,680
Butler$647,200 $420,680
Caldwell$647,200 $431,250
Callaway$647,200 $420,680
Camden$647,200 $420,680
Cape Girardeau$647,200 $420,680
Carroll$647,200 $420,680
Carter$647,200 $420,680
Cass$647,200 $431,250
Cedar$647,200 $420,680
Chariton$647,200 $420,680
Christian$647,200 $420,680
Clark$647,200 $420,680
Clay$647,200 $431,250
Clinton$647,200 $431,250
Cole$647,200 $420,680
Cooper$647,200 $420,680
Crawford$647,200 $420,680
Dade$647,200 $420,680
Dallas$647,200 $420,680
Daviess$647,200 $420,680
De Kalb$647,200 $420,680
Dent$647,200 $420,680
Douglas$647,200 $420,680
Dunklin$647,200 $420,680
Franklin$647,200 $420,680
Gasconade$647,200 $420,680
Gentry$647,200 $420,680
Greene$647,200 $420,680
Grundy$647,200 $420,680
Harrison$647,200 $420,680
Henry$647,200 $420,680
Hickory$647,200 $420,680
Holt$647,200 $420,680
Howard$647,200 $420,680
Howell$647,200 $420,680
Iron$647,200 $420,680
Jackson$647,200 $431,250
Jasper$647,200 $420,680
Jefferson$647,200 $420,680
Johnson$647,200 $420,680
Knox$647,200 $420,680
Laclede$647,200 $420,680
Lafayette$647,200 $431,250
Lawrence$647,200 $420,680
Lewis$647,200 $420,680
Lincoln$647,200 $420,680
Linn$647,200 $420,680
Livingston$647,200 $420,680
Mcdonald$647,200 $420,680
Macon$647,200 $420,680
Madison$647,200 $420,680
Maries$647,200 $420,680
Marion$647,200 $420,680
Mercer$647,200 $420,680
Miller$647,200 $420,680
Mississippi$647,200 $420,680
Moniteau$647,200 $420,680
Monroe$647,200 $420,680
Montgomery$647,200 $420,680
Morgan$647,200 $420,680
New Madrid$647,200 $420,680
Newton$647,200 $420,680
Nodaway$647,200 $420,680
Oregon$647,200 $420,680
Osage$647,200 $420,680
Ozark$647,200 $420,680
Pemiscot$647,200 $420,680
Perry$647,200 $420,680
Pettis$647,200 $420,680
Phelps$647,200 $420,680
Pike$647,200 $420,680
Platte$647,200 $420,680
Polk$647,200 $420,680
Pulaski$647,200 $420,680
Putnam$647,200 $420,680
Ralls$647,200 $420,680
Randolph$647,200 $420,680
Ray$647,200 $431,250
Reynolds$647,200 $420,680
Ripley$647,200 $420,680
St Charles$647,200 $420,680
St Clair$647,200 $420,680
Ste Genevieve$647,200 $420,680
St Francois$647,200 $420,680
St Louis$647,200 $420,680
St Louis City$647,200 $420,680
Saline$647,200 $420,680
Schuyler$647,200 $420,680
Scotland$647,200 $420,680
Scott$647,200 $420,680
Shannon$647,200 $420,680
Shelby$647,200 $420,680
Stoddard$647,200 $420,680
Stone$647,200 $420,680
Sullivan$647,200 $420,680
Taney$647,200 $420,680
Texas$647,200 $420,680
Vernon$647,200 $420,680
Warren$647,200 $420,680
Washington$647,200 $420,680
Wayne$647,200 $420,680
Webster$647,200 $420,680
Worth$647,200 $420,680
Wright$647,200 $420,680

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 3.37% (Zillow, Jan. 2022).

Missouri Jumbo Loan Rates

Missouri homes hit right about average with the rest of the country, so the conventional loan limit holds steady at $647,200 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 3.28% (Zillow, Jan. 2022).

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 an ARM in Missouri is 2.65% (Zillow, Jan. 2022).

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.