Seattle home loan rates today
Freddie Mac's weekly Primary Mortgage Market Survey, sourced via the Federal Reserve (FRED), with King County buyer context, week-over-week rate direction, and an interactive payment calculator.
May 2026 market context
Rates have held steady in the mid-6s through the spring, with the Fed keeping its benchmark rate unchanged since Q1. For Eastside buyers, the conversation has shifted from “waiting for a drop” to “locking before summer inventory tightens.”
APR estimates include typical lender fees. FHA APR includes 1.75% upfront MIP; VA APR includes 2.3% funding fee.
| Loan type | Rate | Est. APR | W/W change | Notes |
|---|---|---|---|---|
| 30-year fixed | 6.53% | 6.73%APR | Stable | Conforming · Freddie Mac PMMS |
| 15-year fixed | 5.87% | 6.05%APR | Stable | Conforming · Freddie Mac PMMS |
| 5/1 ARM | 6.06% | 6.21%APR | Up+0.11% | Initial rate only · APR reflects adjustment caps |
| 30-yr jumbo | ~6.88%est. | ~7.33%APR | — | Estimate · 0.2–0.5% above conforming; verify with lender |
| FHA 30-year | ~6.13%est. | ~7.03%APR | — | Estimate · APR is higher due to 1.75% upfront MIP |
| VA 30-year | ~5.98%est. | ~6.43%APR | — | Estimate · APR includes VA funding fee; eligible borrowers only |
Estimates for well-qualified King County borrowers. Not a lender commitment. Actual APR varies by lender.
Get my custom quote →With rates holding in the mid-6s and no clear catalyst for a near-term drop, buyers with a signed purchase agreement should lock. Summer inventory pressure typically starts in late May — locking now removes one variable from an already competitive environment.
When floating makes sense
If your closing is 60+ days out and you have rate risk tolerance, floating gives you a chance to benefit from any downward movement. Ask your lender about float-down provisions — some allow you to capture a lower rate if the market moves 0.25%+ in your favor before closing.
Planning tool
If you buy now and rates drop, how long until a refi pays off?
Monthly savings
$464
Break-even
16 mo
Break-even date
September 2027
Payment drops from $4,438/mo to $3,975/mo (P&I only). You recover $7,500 in closing costs by September 2027.
Selling in May 2026?
Today's rates directly affect your next home's monthly payment. See how much equity you have to work with — and what price range you can reach with it.
In a market where median prices regularly exceed $900K, a 1% rate shift moves a monthly payment by more than $1,000 on a conforming loan — significantly more on a jumbo. Qualified buyers from Amazon, Microsoft, and other Eastside employers often move fast; understanding your payment range before you tour eliminates the most common offer-day surprises.
When rates dip even slightly, neighborhoods like Capitol Hill, Redmond, Kirkland, and Bellevue see renewed offer pressure almost immediately. Rate awareness isn't just financial planning — it's a competitive tool.
King County's high-cost designation means the conforming limit is above the national baseline, but many Bellevue and Mercer Island purchases still exceed it. Jumbo loans require stronger credit, larger reserves, and often a bigger down payment than conforming files.
Tip:confirm the current conforming limit with your lender before shopping. If you're near the threshold, adjusting your down payment by a small amount to stay conforming can meaningfully reduce your rate and speed up underwriting.
Washington lending strategy
Securing a low rate in a high-priced market requires more than watching headlines. Strong buyers compare the full loan structure: rate, APR, points, lender credits, cash to close, appraisal risk, and the timeline needed to satisfy seller review dates.
Step 01
Optimize your credit score. Borrowers above 760 typically access the best tiered pricing on conforming and jumbo loans.
Step 02
Compare local and national lenders. Seattle credit unions and regional lenders often understand RSU income, jumbo files, and local closing pressure better than national call centers.
Step 03
Consider buying down the rate. In the right negotiation, a seller credit can cover points and reduce your rate for the life of the loan.
Step 04
Lock your rate. Once the payment fits your budget, ask about a 30–60 day lock so daily market volatility doesn't disrupt your purchase.
Payment calculator
Full PITI breakdown — includes property tax, homeowners insurance, HOA, and mortgage insurance.
Home price
Loan amount: $680,000 · LTV: 80.0%
Down payment
Loan term
Interest rate
Monthly cost estimates
King County estimate · 0.9%/yr
Estimated monthly payment
$5,098
Estimates only — not a lender quote. P&I from standard amortization. Property tax uses King County 0.9% annual estimate; verify with the King County Assessor. PMI estimate assumes conventional coverage and drops at 20% equity. FHA and VA loans have different insurance structures.
FAQ
Usually, no — Washington rates track national averages closely. The bigger factor is loan size: King County home prices push many buyers into jumbo territory, and jumbo rates can run 0.1–0.4% above conforming rates depending on the lender and market conditions.
The interest rate is the yearly cost to borrow the principal. APR is broader — it folds in lender fees, closing costs, and points. When comparing loan offers, APR gives a cleaner picture of total borrowing cost. Jumbo and FHA APRs can diverge significantly from the stated rate due to fee structures.
In May 2026, with rates holding in the mid-6s and no clear catalyst for a near-term drop, locking makes sense for buyers with a signed purchase agreement. Floating makes sense only if you have rate risk tolerance and your closing is 60+ days out. Rate lock windows typically run 30–60 days; your lender can quote an extended lock for an additional fee.
RSUs don't lower the quoted rate, but they can strengthen your qualifying income if properly documented. Seattle and Bellevue lenders who work with Amazon, Microsoft, and Google employees regularly know how to underwrite RSU vesting schedules into debt-to-income calculations. Working with a lender familiar with tech compensation avoids delays.
Conforming rates (30-yr, 15-yr, 5/1 ARM) are sourced from the Freddie Mac Primary Mortgage Market Survey (PMMS) via the Federal Reserve Bank of St. Louis (FRED), updated weekly. APR estimates assume $7,500 in lender/closing fees on a $700K loan; FHA APR includes 1.75% upfront MIP; VA APR includes 2.3% funding fee. Jumbo, FHA, and VA rates are estimates based on current market spreads. Week-over-week direction compares the two most recent PMMS observations. All rates are educational and are not a lender commitment.