Pennsylvania mortgage and refinance rates for May 2026

Current mortgage rates in Pennsylvania

As of Wednesday, May 20, 2026, current interest rates in Pennsylvania are 6.75% for a 30-year fixed mortgage and 6.19% for a 15-year fixed mortgage.

After topping out around 8% in October 2023, mortgage rates in Pennsylvania and across the country have decreased, but still remain well above pandemic-era lows. While they started 2026 around 6.25%, rates for 30-year fixed mortgages have risen recently amid economic instability. Experts expect mortgage rates to remain mostly in the 6% range throughout 2026.

Refinance rates in Pennsylvania

With mortgage refinance rates, like mortgage rates, predicted to remain above 6% in 2026, those who locked in a historically low rate during the pandemic are unlikely to refinance now. However, for Pennsylvanians who took out mortgages in late 2023, when rates were around 8%, this might be a good time to refinance.

And if you have a big expense coming up and you’d like to use equity to pay for it, rising home values may be on your side. About 48 million U.S. homeowners have access to home equity, with an average of $207,000 in tappable equity available, according to the May 2026 ICE Mortgage Monitor report. With a cash-out refinance, you could take advantage of this asset to help further your financial goals.

Pennsylvania mortgage rates by loan type

Mortgage options in Pennsylvania

If you’re looking to get a mortgage in Pennsylvania, here are some of your options:

First-time homebuyer programs in Pennsylvania

The Pennsylvania Housing Finance Agency (PHFA), the state’s housing finance authority, helps eligible homebuyers obtain more affordable loans from approved lenders. You might qualify for:

• The HFA Preferred (Lo MI) loan is a conventional loan with lower-cost private mortgage insurance (PMI is generally required if your down payment is less than 20% of the purchase price). The program is open to all types of homebuyers with no purchase price limits, but you’ll need to put at least $1,000 of your own money toward the down payment.
• The Keystone Home loan program serves first-time homebuyers, discharged veterans of the armed forces and buyers of homes in targeted Pennsylvania counties. You can qualify with multiple different loan types, including conventional and government-backed loans. Each type of loan has different requirements.
• The Keystone Government loan is either an FHA loan, a VA loan or a USDA loan. You don’t have to be a first-time homebuyer to apply for this program.
• The Keystone Flex with K-FIT loan combines the Keystone Home loan with a K-FIT (Keystone Forgivable in Ten Years) loan for down payment and closing cost assistance. The K-FIT loan offers 5% of the lower of the purchase price or the appraised value in cash. The loan is forgivable over 10 years, with 10% forgiven annually.
• The Keystone Flex Purchase and Improvement with a K-FIT loan is the same as the above program, except that it’s for buyers purchasing a home that needs renovations. You may qualify for up to $30,000 above the purchase price to renovate the home.

How to find the best mortgage rate in Pennsylvania for you

Additional Pennsylvania mortgage resources