Mortgage Rates in Connecticut

Compare today's average mortgage rates in the state of Connecticut. Bankrate aggregates mortgage rates from multiple sources to provide averages for Connecticut.

Connecticut Mortgage Interest Rates Saturday, February 27
Loan Term Interest Rate Change 1 Day Rate Last Week
30-year fixed mortgage rate 3.14% trend-up-red 0.17% 2.97%
15-year fixed mortgage rate 2.52% trend-up-red 0.09% 2.43%
5/1 ARM mortgage rate 2.93% -- 0.00% 2.93%
30-year fixed jumbo mortgage rate 3.18% trend-up-red 0.13% 3.05%
30-year fixed refinance rate 3.16% trend-up-red 0.17% 2.99%

Lenders nationwide provide weekday mortgage rates to our comprehensive national survey to help consumers in their mortgage process. To learn more about the different rate averages Bankrate publishes above, see Understanding Bankrate's Rate Averages.

Today's 30-year fixed rate:

Current rates in Connecticut are 3.14% for a 30-year fixed, 2.52% for a 15-year fixed, and 2.93% for a 5/1 adjustable-rate mortgage (ARM).

Learn more about today's mortgage rates.

Connecticut mortgage overview

Depending on where in the state you choose to live, Connecticut can be a relatively more expensive place to call home. Generally, the median list price for a property in the state is steeper than the national median.

Connecticut requires all sellers to provide a Uniform Property Condition Disclosure to buyers as part of the sale process. This is somewhat unique to Connecticut, as it’s not a requirement in every state. If the seller does not provide this legally required document, the buyer must be credited $500 at the mortgage closing.

First-time homebuyer programs in Connecticut

The Connecticut Housing Finance Authority (CHFA) offers programs that can help first-time homebuyers of all backgrounds, from the disabled to the military, police and teachers. There is also a down payment assistance loan available to first-time homebuyers.

For any of the below listed programs, go to the CHFA resource map for detailed eligibility requirements.

Down Payment Assistance Program

For many, saving enough for down payment is one of the biggest hurdles to homeownership. For those who have enough money to make monthly mortgage payments, but haven’t been able to save a down payment, Connecticut offers the Down Payment Assistance Program (DAP) loan. Funds from this loan count as a second mortgage on your property, and often, the interest rate on the DAP loan is the same as the interest rate on your CHFA first mortgage. The DAP loan must be a minimum of $3,000, but no more than the minimum down payment required to purchase (typically 3 percent to 3.5 percent). To qualify for the DAP loan, first-time homebuyers must first apply for a CHFA mortgage, and contribute any household savings above $10,000 toward the down payment. (This requirement is waived for police and teacher loan programs through CHFA.) First-time buyers must also attend a buyer education course, either in person or online, to take advantage of this assistance.

HFA Advantage and HFA Preferred Loans

Two Fannie Mae and Freddie Mac loan programs, HFA Advantage and HFA Preferred, are common for first-time homebuyers in Connecticut, as they provide savings on the insurance costs associated with a mortgage, as well as “below-market” interest rates.

In addition to providing no upfront mortgage insurance costs and lower monthly mortgage insurance overall, these programs eliminate mortgage insurance premiums entirely when the borrower reaches 20 percent equity.

To qualify, you must be a first-time buyer or have not owned a home in the previous three years. The home must also be your primary residence, and there are income and purchase price limits within the programs.

Conventional Area Median Income Loan Program

Also offered through the CHFA, 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). The benefits of this mortgage include a below-market interest rate and savings on insurance costs. As with most programs, the purchase property must be your primary residence, and sales price limits apply.

Military Homeownership Program

Current members of the military and veterans who are first-time homebuyers have a mortgage option available from the CHFA. The Military Homeownership Program features 0.125 percent off a below-market interest rate, and is also available to unmarried, surviving spouses or civil union partners of a veteran who died as a result of military service or service-connected disabilities. Like the HFA Advantage and HFA Preferred programs, the property must be your primary residence, and there are also income and sales price limits, depending on where the home is located.

Police Homeownership Program

If you’re a municipal police officer looking to buy a home in the city or town where you work, or a Connecticut state police offer, the Police Homeownership Program can help make your dream a reality. The program offers mortgages with interest rates that are an additional 0.125 percent off below-market rates, and is available to first-time homebuyers or those who have not owned a home for the prior three years. Funding is available for primary residences only, and there are sales price and income limits, as well.

Teachers Mortgage Assistance Program

The Teachers Mortgage Assistance Program also features 0.125 percent off the below-market interest rates offered by the CHFA. Designed to assist teachers with becoming homeowners in the areas they work, it is available to first-time buyers or those who have not owned a home in the past three years.

Like other CHFA programs, the home must be your primary residence. In addition, borrowers must be employed as a teacher in a “priority” or “transitional” school district, a list of which can be found on; or, employed by the state in a technical high school in one of these districts.

The Teachers Mortgage Assistance Program is also open to those who graduated from a historically black college or university, or a Hispanic-serving institution.

Home of Your Own Program

CHFA also offers mortgages specifically for first-time borrowers with disabilities through the Home of Your Own Mortgage Program. If you or someone in your family who will be living in the home has a documented disability, the program can help make homeownership possible by providing a low interest rate.

To qualify, you must be able to provide proof of the disability, and be a first-time homebuyer or have not owned a home in the past three years. In addition, the home must be your primary residence. As with other CHFA programs, there are also income and sales price limits.

Homeownership for Residents of Public Housing

Yet another option, the CHFA offers a mortgage designed to help residents of public housing transition to homeownership. The Homeownership for Residents of Public Housing loan offers below-market interest rates to qualified tenants of public housing. The mortgage is also available to participants in rental assistance programs and tenants of rental housing supported by the CHFA, the U.S. Department of Housing and Urban Development (HUD) and local housing agencies. All borrowers must meet credit, income and employment requirements.

Mobile Home Mortgage Program

If it’s a mobile home you’d like to purchase, there’s a first-time homebuyer program for that, as well. The CHFA Mobile Home Mortgage Program offers low interest rates and low closing costs. As with other programs, there are income and purchase price limits to participate, and the mobile home must be your primary residence.

Connecticut mortgage refinancing

Refinancing can be a great way to save money when interest rates drop, but you’ll want to be sure that fees and other costs associated with refinancing do not wipe out any potential savings.

When you’re ready to refinance in Connecticut, be sure to shop around and research offers from multiple lenders.