Idaho mortgage and refinance rates for October 2026

As of Wednesday, October 28, 2026, current mortgage interest rates in Idaho are 7.88% for a 30-year fixed mortgage and 6.88% for a 15-year fixed mortgage.

While it’s impossible to know where rates will head next, they've been gradually stabilizing in the Gem State, in line with national trends. But rates are still much higher than they were during the pandemic and are expected to stay that way into 2026. It's unlikely rates will reach 4 or 5% anytime soon. 

Refinance rates are still significantly above the low rates of the early 2020s, but refinancing activity has picked up in Idaho. In September, the number of refinance loans in the state increased by nearly 34% versus the year before, according to ATTOM. If you took out your loan when rates were above 7%, it may make sense to refinance now. Experts generally recommend this step if you can reduce your interest rate by half a percentage point or more and plan to stay in the home for at least another three years. 

And if you’re remodeling your home or need funds for another purpose, a cash-out refinance might be an option — particularly if your home value has appreciated over the past few years.

If you’d like to see how mortgage rates in Idaho compare to U.S. averages, here’s a look at the current national average rates for various loan types:

If you’re looking for a mortgage in Idaho, consider these options:

• Idaho conventional mortgages: For a conventional mortgage in Idaho, you’ll generally need a debt-to-income (DTI) ratio of no more than 45% and a credit score of at least 620. The minimum down payment is typically 3%. At that level, you’ll need to pay private mortgage insurance, or PMI, premiums, as well.
• Idaho FHA loans: If you have a lower credit score, a loan insured by the Federal Housing Administration (FHA) might be a better option. If you have a credit score of at least 580, you can make a down payment of only 3.5% with an FHA loan.
• Idaho VA loans: If you’re a qualifying veteran, an active-duty member of the military or a surviving spouse, you can get a mortgage guaranteed by the Department of Veterans Affairs (VA). VA loans don't typically require a down payment or mortgage insurance, but you do need to pay a funding fee.
• Idaho USDA loans: Since Idaho is largely a rural state, there are a lot of properties eligible for loans backed by the United States Department of Agriculture (USDA). Like VA loans, USDA loans don’t require a down payment. However, you’ll need to meet area-specific income requirements.

Idaho Housing, the state’s housing finance authority, offers many programs to assist with buying a home, including down payment and closing costs assistance. Here are some of the options available: 

• Idaho Housing loan: Idaho Housing offers low-interest-rate loans for qualifying buyers. To qualify for a loan, you’ll need to have an annual household income under $170,000. Along with low mortgage rates, you can also qualify for down payment assistance and a low mortgage insurance rate, or pay no mortgage insurance at all.
• Down payment assistance — second mortgage: Along with an Idaho Housing loan to buy your home, you can apply for a second mortgage of up to 8% of the home’s sale price to pay for some of the down payment or closing costs. This loan is repaid over 15 years at a rate that’s 2% higher than your primary mortgage rate. In addition, you must complete a homebuyer education course and pay at least $500 toward the home purchase price yourself.