Current Connecticut Mortgage and Refinance Rates
Mortgage interest rates currently average 6.11% for 30-year fixed loans and 5.23% for 15-year fixed loans.
Refinance rates in Connecticut
30-year FIXED
Current refinance rates are averaging:
6.52%
15-year FIXED
Current refinance rates are averaging:
6.06%
- Rate-and-term refinances give you the option to change your interest rate, your loan term or both. If you want the lowest monthly mortgage payment possible, aim for a lower rate and longer loan term. In Connecticut today, refinance rates are higher than purchase mortgage rates.
- Cash-out refinances pay off your current mortgage with a new loan, while also giving you access to a lump sum of cash secured by your home equity. That added cash means you’ll pay higher rates than you would for a regular refinance.
- Conventional refinances are loans that aren’t part of a government loan program. You can expect them to come with higher rates than government-backed refinances.
- FHA refinances are insured by the Federal Housing Administration (FHA). Right now Connecticuters could see FHA refinance rates that are a full percentage point lower than conventional refi rates.
- VA refinances, which are backed by the U.S. Department of Veterans Affairs (VA), come with very accessible requirements. VA loan rates are also very competitive, and right now in Connecticut could save you 1.25 percentage points compared to a conventional refinance loan.
See whether refinancing makes sense for you using our mortgage refinance calculator.
What is the current mortgage rates forecast?
The current mortgage rates forecast from our market expert states that 30-year rates will remain around 6.0% in early 2026.
The affordability crisis continues to make buying a home tough — especially for first-time homebuyers. Despite the Federal Reserve cutting rates three times in 2025, mortgage rates have remained above 6% and home prices have not fallen like they usually do at the end of the year. But, if rates go low enough to entice existing homeowners who want to sell their homes, the added supply of housing stock could help increase affordability.
How do I get the best mortgage rate for my Connecticut home loan?
Many factors determining mortgage rates are out of your control, but here are a few steps you can take on your own right now to get the best mortgage rate:
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Boost your credit
Your credit score greatly influences the mortgage rates you’re offered. In most cases, the higher your score, the better your rate. -
Lower your debt-to-income (DTI) ratio
It usually takes time to increase your income, but you can quickly lower your DTI ratio by paying off some debts or getting a cosigner. Your DTI ratio shows lenders how much housing debt you can afford to take on and how risky of a borrower you are. Lower DTIs typically mean lower rate offers. -
Buy a single-family, site-built home
Borrowers buying a manufactured home, a property with more than one unit, a vacation home or an investment property usually pay higher interest rates. -
Pay for mortgage points
Mortgage points allow you to “buy down” your interest rate. Typically this means paying 1% of your loan amount to reduce your rate by up to 0.25 percentage points. A lower interest rate translates into savings over the entire loan term. -
Compare offers from multiple lenders
Who wouldn’t want to save thousands of dollars? Gathering loan estimates from three to five lenders gives you the opportunity to choose your lowest rate and, according to LendingTree data, that simple step really can save you thousands.
Read more about our picks for the best mortgage lenders.
Once you’ve applied for a mortgage and receive a loan estimate, you can request that the lender give you a mortgage rate lock. The lock ensures that as you go through the closing process, you won’t be dealing with a moving target. Your quoted rate will be there waiting when you arrive at the closing table.
Connecticut home loan programs
Time to Own
This program from The Connecticut Housing Finance Authority (CHFA) provides up to $50,000 in forgivable down payment assistance to borrowers who are using a CHFA mortgage to purchase a home. The assistance funds will be fully forgiven after 10 years.
Who qualifies
Borrowers must:
- Be first-time homebuyers or buy in a targeted area
- Be a current Connecticut resident who has lived in the state for at least three years
- Purchase a home within the program’s sales price limits, which vary by location
- Earn within the program’s income limits, which vary by location and household size
Who qualifies as a first-time homebuyer?
- People who have never owned a home
- People who haven’t owned real estate in the last three years
Home of Your Own
Also from CHFA, the Home of Your Own program is designed to help first-time homebuyers with disabilities. The program offers low-interest loans and down payment assistance.
Who qualifies
Borrowers must:
- Be a person with a disability or have a family member with a disability who will live in the home with you
- Be first-time homebuyers or buy in a targeted area
- Purchase within the program’s sales price limits
- Have an annual income within the program’s income limits, which range from $119,500 (a one- or two-person household) to $137,425 (households with three or more people)
- Take a homebuyer education course
Need to look up CHFA’s targeted areas on a map? Use this tool on CHFA’s website.
Mobile Manufactured Home Loan Program
Borrowers looking to purchase a manufactured home as their first home can finance up to 80% of the home using this program. The mortgage loan will come with a below-market interest rate and low closing costs.
Who qualifies
Borrowers must:
- Not own other real estate
- Purchase a home in a state-licensed mobile home park
- Purchase a home within the program’s price limits
- Have a qualifying lot lease agreement
- Complete a homebuyer education course
Learn about different types of CT mortgage loans
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Connecticut conventional loans
Conventional loans are the standard choice for borrowers with solid credit and not too much debt. The minimum requirements require at least a 620 credit score and a maximum 45% DTI ratio. -
Connecticut FHA loans
If conventional loans are out of reach, it’s wise to look into FHA loan requirements. They’re flexible enough to put homeownership within reach for borrowers with a credit score as low as 500. However, you’ll have to put at least 10% down unless you have at least a 580 score. And if your score is 580 or higher, you can get into a home with only 3.5% down. -
Connecticut VA loans
VA loan requirements are the most flexible of the loan types we’ll cover here, but you must be a qualified military borrower to use them. -
Connecticut streamline refinances
These include both FHA streamline refinance loans and VA interest rate reduction refinance loans (IRRRLs). “Streamline” means that you won’t have to deal with as much paperwork as you would with most refinances. However, you must refinance from an FHA loan into an FHA loan, or from a VA loan into a VA loan.