Oregon mortgage and refinance rates for May 2026

Bankrate’s mortgage rates include national rate and APR averages; Bankrate Monitor (BRM) National Index rate averages; and “top offers”:

• National rate and APR averages: Displayed as daily and weekly averages, these rates and APRs are primarily collected from the 5 largest banks and thrifts across hundreds of markets in the U.S.

• Bankrate Monitor (BRM) National Index rate averages: Reported weekly, this long-standing survey collects rates from banks and thrifts across hundreds of markets in the U.S.

• “Top offers”: Displayed daily and weekly, these are an average of the rates listed first on our rate tables as advertised by our partners. The averages shown are based on the loan type and term selected.

You can compare national average mortgage rates to top offers to see how much you could save when shopping on Bankrate.

Learn more about how we collect, display and report mortgage rates.

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. To qualify for a conventional mortgage, you’ll need a minimum credit score of 620 and a debt-to-income (DTI) ratio of no more than 45%. If you make a down payment of less than 20%, you’ll need to pay private mortgage insurance (PMI) premiums as well.

Unlike the stability of fixed-rate loans, adjustable-rate mortgages (ARMs) have interest rates that fluctuate with market conditions.

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. If you have a credit score of at least 580, you could qualify for an FHA loan with a down payment as low as 3.5%.

VA loans provide flexible, low-interest mortgages for members of the U.S. military, including those on active duty and veterans, and their families. If you’re a veteran, active-duty member of the military or a surviving spouse, you might qualify for a mortgage guaranteed by the Department of Veterans Affairs (VA). VA loans typically don’t require a down payment, and you won’t have to pay for mortgage insurance, but you will need to pay a funding fee, which ranges from 1.25% to 3.3% of the loan amount.

USDA loans help moderate- to low-income borrowers who meet certain income limits buy homes in rural areas.

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. In Oregon, the loan limit for a conventional loan is $832,750 in all counties — any mortgage amount above that threshold will be a jumbo loan.