Oregon Mortgage and Refinance Rates

Current mortgage rates in Oregon

As of Monday, September 15, 2025, current interest rates in Oregon are 6.75% for a 30-year fixed mortgage and 6.13% for a 15-year fixed mortgage.

Mortgage rates in Oregon, and throughout the country, began 2025 around 7 percent. In recent months, economic uncertainty and concerns about inflation have pushed rates downward, though, and they’re currently hovering in the high 6-percent range. While mortgage rates are hard to predict and change frequently, many experts believe they’ll remain between 6 and 7 percent, decreasing modestly, for the remainder of 2025 and into next year.

Refinance rates in Oregon

While today’s mortgage refinance rates are higher than they were a few years ago, now may be a good time to refinance if you bought when rates were closer to 8 percent. Refinance applications in Oregon were up almost 33 percent year-over-year in April, according to ATTOM, a real estate data provider. 

And if you've owned your home for a while — or benefited from the recent spike in home values — you might want to explore cash-out refinancing, which lets you use home equity to pay for expenses like renovations or education. This could save you money over other forms of borrowing. 

National mortgage rates by loan type

How do mortgage rates in Oregon compare to national figures? Here’s a look at the average purchase and refinance rates for various loan types across the U.S.:

Oregon housing market statistics and trends

The median home sales price in Oregon is significantly higher than the national median, and it’s increasing — but not nearly as quickly as a few years ago. If you’re looking to buy in Oregon, there are some hopeful signs: Homes are spending a median of 26 days on the market, two more than last year, and the number of homes for sale in the state has increased by 5 percent since this time in 2024. 

• Median home sales price, April 2025: $502,062
• Median home value, April 2025: $511,698
• Median down payment, April 2025: $87,877
• Median days on market, June 2025: 26
• Percentage of homes sold above list price, June 2025: 27.6%
• Percentage of homes with price drops, June 2025: 40.7%
• Homeownership rate, Q1 2025: 63.0%

Sources: ATTOM, Redfin, U.S. Census Bureau

Mortgage options in Oregon

Ready to buy a home in Oregon? Consider these mortgage financing options:

• Fixed-rate mortgages: Fixed-rate mortgages maintain the same interest rate over the life of your loan, which means your principal and interest payment always stays the same.
• Adjustable-rate mortgages: Unlike the stability of fixed-rate loans, adjustable-rate mortgages (ARMs) have interest rates that fluctuate with market conditions.
• FHA loans: Backed by the Federal Housing Administration, these home loans come with competitive interest rates and help make homeownership possible for borrowers without a large down payment or pristine credit.
• VA loans: VA loans provide flexible, low-interest mortgages for members of the U.S. military, including those on active duty and veterans, and their families.
• USDA loans: USDA loans help moderate- to low-income borrowers who meet certain income limits buy homes in rural areas.
• Jumbo loans: Jumbo mortgages are home loans that fall outside Federal Housing and Finance Agency (FHFA) borrowing limits. Jumbo loans are more common in higher-cost areas.

First-time homebuyer programs in Oregon

Oregon Housing and Community Services (OCHS) is a government agency that helps prospective homeowners with a variety of programs. These include:

• FirstHome: This program offers competitive rates for first-time buyers, along with 4 or 5 percent of the home price in down payment assistance and reduced mortgage insurance for borrowers earning less than 80 percent of the area median income. You’ll need a credit score of at least 620 and an income within your county's limits.
• Down payment and closing cost assistance: Eligible borrowers can receive up to $60,000 or 20 percent of the purchase price, whichever is less. A portion of the program’s funds are reserved for veterans, who can use up to 10 percent of the funds to make lender-required repairs to a property. 

Additional Oregon mortgage resources

• Review Oregon mortgage lenders: Learn what kind of mortgage offer you can get from these Oregon mortgage lenders.
• Oregon first-time homebuyer assistance programs: Find out what assistance you may qualify for when buying your first home in Oregon.
• Buying a home in Oregon: A how-to: Read our guide to learn the ins and outs of buying a home in Oregon.
• Oregon housing market: Everything you need to know: The housing market is always changing. Here’s what you need to know about Oregon's.
• Best homeowners insurance in Oregon for 2025: After your principal and interest, your homeowners insurance is a major part of your mortgage payment. Bankrate's guide can help you find the right rate and coverage for your home.