Oregon Mortgage and Refinance Rates

Current mortgage rates in Oregon

As of Tuesday, May 13, 2025, current interest rates in Oregon are 7.13% for a 30-year fixed mortgage and 6.19% for a 15-year fixed mortgage.

While mortgage rates are hard to predict, many experts believe rates will remain between 6 and 7 percent for the remainder of 2025, with volatility potentially calming down as questions around tariffs and trade policies sort themselves out.

Refinance rates in Oregon

While today’s mortgage refinance rates are higher than they were a few years ago, refinancing is becoming more attractive for homeowners. The number of mortgage refinances in Oregon increased by more than 8 percent in February 2025 compared to the year earlier, according to ATTOM data. If rates fall significantly below 7 percent, refinancing activity might increase. 

If you've owned your home for a while, you might want to explore cash-out refinancing, which allows you to pull from your home equity. If you’re planning renovations or have another major expense coming up, this could be a cheaper route compared to credit cards or home improvement loans.

National mortgage rates by loan type

How do mortgage rates in Oregon compare to national figures? Here’s a look at the average purchase and refinance rates for various loan types across the U.S.:

Oregon mortgage rate housing market statistics and trends

Mortgage rates in Oregon aren’t likely to fall below 6 percent in 2025 — and it's uncertain whether they'll even fall that low this year. At the same time, housing prices aren’t getting any cheaper. The median home sales price in the state increased by more than 3 percent between February 2024 and February 2025, according to Redfin. There is some good news for buyers, though: The number of homes for sale jumped by more than 10 percent over the same time period. 

From the top of Mt. Hood to the shoreline of the Pacific Ocean, the Beaver State has much to offer its residents. If you want to make Oregon your home, here are some key statistics about the state's housing market:

• Median home sales price: $504,900
• Median days on market: 56
• Median down payment: $84,800
• Homeownership rate, Q4 2024: 66.2%

Sources: Redfin, ATTOM, U.S. Census Bureau

Mortgage options in Oregon

Ready to buy a home in Oregon? Consider these mortgage financing options:

• Fixed-rate mortgages: Fixed-rate mortgages maintain the same interest rate over the life of your loan, which means your monthly mortgage payment always stays the same.
• Adjustable-rate mortgages: Unlike the stability of fixed-rate loans, adjustable-rate mortgages (ARMs) have interest rates that fluctuate with market conditions.
• FHA loans: Backed by the FHA, these home loans come with competitive interest rates, and help make homeownership possible for borrowers without a large down payment or pristine credit.
• VA loans: VA loans provide flexible, low-interest mortgages for members of the U.S. military (active duty and veterans) and their families.
• USDA loans: USDA loans help moderate- to low-income borrowers who meet certain income limits buy homes in rural, USDA-eligible areas.
• Jumbo loans: Jumbo mortgages are home loan products that fall outside Federal Housing and Finance Agency (FHFA) borrowing limits. Jumbo loans are more common in higher-cost areas where home prices are often on the higher end.

First-time homebuyer programs in Oregon

The Oregon Housing and Community Services (OCHS) is a government agency that helps prospective homeowners with a variety of programs. These include:

• FirstHome: This program offers competitive rates for first-time buyers, along with 4 or 5 percent down payment assistance and reduced mortgage insurance for borrowers earning less than 80 percent of the area median income. You’ll need a credit score of at least 620 and be within income limits, which vary by county.
• Down payment and closing cost assistance: Eligible borrowers can receive up to $60,000 or 20 percent of the purchase price (whichever is less). A portion of the program’s funds are reserved for veterans, who can use up to 10 percent of the funds to make lender-required repairs to a property. 

Additional Oregon mortgage resources

• Review Oregon mortgage lenders: Learn what kind of mortgage offer you can get from these Oregon mortgage lenders.
• Oregon first-time homebuyer assistance programs: Find out what assistance you may qualify for when buying your first home in Oregon.
• Buying a home in Oregon: A how-to: Read our guide to learn the ins and outs of buying a home in Oregon.
• Oregon housing market: Everything you need to know: The housing market is always changing. Here’s what you need to know about Oregon's housing market.
• Best homeowners insurance in Oregon for 2025: After your principal and interest, your homeowners insurance is a major part of your mortgage payment. Bankrate's guide can help you find the right rate and coverage for your home.

Meet our Bankrate experts

Written by: Andrew Dehan, Writer, Home Lending

I’ve covered mortgages, real estate and personal finance since 2020. At Bankrate, I’m focused on all of the factors that affect mortgage rates and home equity. I enjoy distilling data and expert advice into takeaways borrowers can use. Prior to Bankrate, I wrote and edited for Rocket Mortgage/Quicken Loans. My work has been published by Business Insider, Forbes Advisor, SmartAsset, Crain’s Business and more.

Read more from Andrew Dehan

Edited by: Laurie Richards, Editor, Home Lending

I’ve spent five years in writing and editing roles, and I now focus on mortgage, mortgage relief, homebuying and mortgage refinancing topics. I’m most interested in providing resources for aspiring first-time homeowners to help demystify the homebuying process. In 2021, I earned a Poynter ACES Certificate in Editing. I have an MA in English.

Read more from Laurie Richards