Connecticut mortgage and refinance rates for May 2026

Current Mortgage Rates in Connecticut 

As of Friday, May 29, 2026, current interest rates in Connecticut are 6.41% for a 30-year fixed mortgage and 5.84% for a 15-year fixed mortgage.

Mortgage rates in Connecticut — and nationally — trended upward in 2023 and 2024, despite a series of rate cuts by the Federal Reserve in late 2024. Rates began to decrease in early 2025 and now average just above 6%. While mortgage rates are difficult to predict, many experts expect this trend to continue, with rates remaining around 6% through 2026.

Refinance rates in Connecticut 

National mortgage refinance rates have decreased since their peak near 8% in October 2023 and now generally hover between 6% and 7% for both 30-year and 15-year refinance terms. In Connecticut, the average rate for a 30-year refinance sits at 6.88%, and a 15-year refinance is 6.25%. 

For those who locked in a low mortgage rate during the height of the pandemic, it likely doesn’t make sense to refinance at a higher rate. However, if you took out your mortgage when rates were closer to 8%, now may be a good time to refinance and potentially tap into the equity of your home.

Connecticut mortgage rates by loan type

Mortgage options in Connecticut

There are a variety of mortgage options available to homebuyers in Connecticut, including:

First time homebuyer programs in Connecticut 

The Connecticut Housing Finance Authority (CHFA) offers several programs to assist first-time homebuyers. Here’s a rundown:

• HFA Advantage and HFA Preferred loans: HFA Advantage and HFA Preferred loans offer down payment assistance, no upfront mortgage insurance costs and low monthly mortgage insurance payments through housing finance agencies, including the CHFA. Income and sales price restrictions apply.
• Conventional Area Median Income Loan Program: The Conventional Area Median Income Loan Program (CALP) is aimed at first-time buyers who do not qualify for an HFA Advantage or HFA Preferred loan because their income is greater than 80 percent of the area median income (AMI).
• Down Payment Assistance Program Loan: The CHFA offers a Down Payment Assistance Program (DAP) loan of up to $15,000.

The CHFA also has specialized homebuying programs for certain types of borrowers, including members of the military and the police, teachers, people with a disability and public housing residents.

Additional Connecticut mortgage resources