Mississippi Mortgage and Refinance Rates

As of Tuesday, June 30, 2026, current mortgage interest rates in Mississippi are 6.53% for a 30-year fixed mortgage and 6.00% for a 15-year fixed mortgage. 

Similar to borrowing costs nationwide, Mississippi mortgage rates settled into a tight range between 6.5% and 7% for much of 2025. So far in 2026, inflation concerns have kept the Federal Reserve from cutting rates further. This combined with conflict in the Middle East means mortgage rates may continue to slowly climb.

Refinance rates in Mississippi often mirror those for purchase rates. That said, rates haven't moved significantly enough for refinancing to make sense for many borrowers. But if rates drop before the end of the year, pockets of refinancing opportunities may present themselves to those holding out for lower rates. 

If you have a large amount of equity, you can use a cash-out refinance to leverage that equity to remodel your home, pay down debt or cover any other expense.

As you rate shop with different lenders, compare their offers to the national averages for various loan types.

If you’re looking to get a mortgage in Mississippi, consider these loan options:

If saving enough money for a down payment is holding you back from first-time homeownership, or your credit history is less than ideal, the Mississippi Home Corporation might have a program that can help. 

• Smart6: Mississippi Home Corporation’s Smart6 loan is a 30-year fixed-rate mortgage for eligible first-time and repeat homebuyers. The “6” refers to the accompanying $6,000 in down payment and closing cost assistance, which is set up as a second, deferred-payment mortgage with no interest.
• Easy8: Similar to the Smart6 program but only available to eligible first-time buyers and those who haven't owned a home in the past three years, Easy8 offers up to $8,000 of assistance with down payment and closing cost expenses. Income limits are lower than the Smart6 program and vary by county and household size.
• Trusty10: The Trusty10 program offers the highest amount of down payment and closing cost assistance — up to $10,000 — but it’s not a 0% interest loan. Instead, you’ll pay a 2% rate for 15 years, and you’ll need to meet income and purchase price limits, which are the same as those in the Easy8 program.
• Housing Assistance for Teachers: Rural Mississippi has a critical shortage of public educators. Teachers looking to buy and work in select counties in the state may be able to qualify for up to $6,000 of grant money that does not have to be repaid as long as they remain employed for at least three years.

Rather than going right to your bank for a mortgage, compare loan offers from a few different lenders. This could help you uncover a lower rate, potentially saving you thousands in interest over time. Bankrate can also help you find the best mortgage deal in today’s rate environment. As you shop around, keep these tips in mind.