Current Colorado Mortgage Rates
Average market rates for June 18, 2026 in Colorado are 6.42% for 30-year fixed purchase and 6.48% for 30-year fixed refinance
| Product | Rate | APR |
|---|---|---|
| 30-year Fixed Purchase | 6.42% | 6.46% |
| 30-year Fixed Refinance | 6.48% | 6.52% |
Mortgage Rate Trends in Colorado
| Product | Rate | APR |
|---|---|---|
| 30-year Fixed Purchase | 6.42% | 6.46% |
| 30-year Fixed Refinance | 6.48% | 6.52% |
Coloradans tend to pay higher mortgage rates than other Americans. Official figures reveal that, in 2023, the average in the state was 7.08% compared with 6.97% nationally.
Often, this can arise because the average credit score in a state is unusually low — high scores correlate with low rates for both individuals and states. But that’s not the case for the Centennial State. In March 2024, the average score in Colorado was 720 compared with 705 nationally, according to Equifax. So, if it’s not credit scores, what else might be pushing mortgage rates higher than average in Colorado?
One possibility is state regulation of the mortgage industry, which can add to lenders’ compliance costs. However, a review of Colorado-specific mortgage regulations doesn’t reveal anything that clearly distinguishes its requirements from standard federal guidelines.
Shop Around for the Best Rate
Another factor that influences a state’s mortgage rates: how competitive lenders are — and whether residents tend to shop around for the best deal.
That last point may apply here. A federal regulator found that borrowers could save $100 a month or more simply by choosing a more competitive lender. If enough Coloradans aren’t comparing quotes from multiple lenders, that could help explain the state’s higher average rates — and it means you can beat that average by shopping around.
Colorado Purchase Rates
| Product | Rate | APR |
|---|---|---|
| 15-year Fixed Purchase | 5.60% | 5.66% |
| 15-year Fixed Jumbo Purchase | 6.30% | 6.33% |
| 30-year Fixed Purchase | 6.42% | 6.46% |
| 30-year Fixed Jumbo Purchase | 6.90% | 6.91% |
Colorado Refinance Rates
| Product | Rate | APR |
|---|---|---|
| 15-year Fixed Refinance | 5.58% | 5.64% |
| 15-year Fixed Jumbo Refinance | 6.27% | 6.30% |
| 30-year Fixed Refinance | 6.48% | 6.52% |
| 30-year Fixed Jumbo Refinance | 6.95% | 6.97% |
Colorado ARM Rates
| Product | Rate | APR |
|---|---|---|
| 5/6 Arm (purchase) | 6.08% | 6.15% |
| 5/6 Arm (refinance) | 6.10% | 6.15% |
| 5/6 Jumbo Arm (purchase) | 5.50% | 5.51% |
| 5/6 Jumbo Arm (refinance) | 5.50% | 5.51% |
How we source rates and rate trends
Colorado Real Estate Trends
Home Price Trends
Redfin tracks real estate trends in Colorado. The median sale price for a home in the state in October 2024 was $639,700, well above the national median of $437,300 that same month, per the Federal Reserve Bank of St. Louis.
Colorado’s appeal is well-documented — a strong business climate, abundant arts, culture, and recreation, and spectacular scenery all contribute to sustained demand. That popularity, however, means home prices here are unlikely to come down significantly anytime soon.
Still, the market was relatively sluggish between November 2023 and October 2024, with home prices rising slowly and home equity actually dipping. Growth — and slowdowns — vary considerably by area, with some parts of the state seeing strong price appreciation while others have remained flat or declined.
Here’s Redfin’s take on Colorado’s fastest-growing markets:
Top 10 Metros in Colorado with the Fastest Growing Sales Price
- Steamboat Springs, CO — 55.2%
- Timnath, CO — 31.4%
- Westminster, CO — 16.4%
- Erie, CO — 15.2%
- Dakota Ridge, CO — 10.8%
- Greeley, CO — 10.6%
- Lakewood, CO — 10.3%
- Pueblo West, CO — 9.9%
- Berthoud, CO — 9.0%
- Northglenn, CO — 8.9%
First-Time Homebuyers and the Selling Environment
High home prices create real difficulties for first-time homebuyers, who must save substantial sums for down payments and closing costs. See the down payment assistance programs available to many Colorado first-time buyers below.
There is some good news, though. Redfin reports that the median home sale price rose only 3% over the 12 months ending in October 2024, while wages and salaries nationwide increased 5.6% over the same period — meaning affordability improved slightly for those earning more.
Additionally, the number of homes sold over that October-to-October period rose 11.1%, suggesting the market may be loosening. And by October 2024, the average time between listing and sale grew by 10 days to 46 days — meaning motivated sellers may be more open to negotiation.
Home Equity in Colorado
Home equity is the amount by which your home’s current market value exceeds your mortgage balance. It’s part of your net worth — and it’s also a key factor if you’re considering a cash-out refinance or second mortgage.
Once your equity climbs above 20% of your home’s value, you might want to consider refinancing an FHA or USDA loan to a conventional mortgage, which could eliminate your monthly mortgage insurance premiums.
CoreLogic tracks home equity and reported that, for Q3 2024, the average U.S. homeowner gained approximately $5,700 in equity over the prior year. Unfortunately, that growth wasn’t reflected in Colorado — Coloradan homeowners lost an average of $17,000 in equity over that period.
Negative equity — sometimes called being “underwater” — occurs when your mortgage balance exceeds your home’s market value. It remains an issue for some Coloradans, though CoreLogic classifies its impact within the state as only moderate.
More on Housing Prices in Colorado
Prices for different types of homes vary. Here is a breakdown of different property types and cities, according to Redfin.
The average sales prices by type of property are around:
- $662,600 for a single-family home
- $526,400 for a townhouse
- $688,200 for a condo/co-op
The median sales price in some of Colorado’s larger cities:
- Denver — $587,750
- Colorado Springs — $464,000
- Aurora — $477,000
- Fort Collins — $558,500
Colorado Realtors® paint a cautious picture: sluggish sales, flat prices, and subdued buyer demand define much of the state’s housing market. In many markets, including Denver, around half of the homes being sold are closing below the asking price.
First-Time Home Buyer Programs in Colorado
When traditional mortgage products are not affordable or workable for certain homebuyers, down payment assistance programs can expand homeownership possibilities. Even when a buyer earns enough to cover the monthly mortgage payments, saving for a down payment and closing costs can be a significant hurdle.
Assistance can be offered in various forms — including grants, forgivable loans, deferred loans, or second mortgages repaid alongside your first mortgage.
In Colorado, different areas offer their own programs. Some notable examples include:
- Boulder County provides down payment assistance for homes purchased around the city of Boulder. First-time buyers can receive up to 10% of the purchase price, up to a maximum of $40,000.
- metroDPA in Denver offers down payment assistance and home loans to qualifying households. A credit score above 640 and an annual income of up to $176,700 are required.
- The City of Aurora’s Home Ownership Assistance Program provides up to $10,000 to eligible first-time homebuyers. Completion of a homebuyer education class is required to qualify.
- Pueblo County offers down payment assistance for first-time homebuyers purchasing within county limits.
The Colorado Housing and Finance Authority (CHFA) also offers statewide programs in the form of grants (which never need to be repaid) or deferred second mortgages (repayable only when you sell, refinance, move, or pay off your loan).
To find more programs in your area, search for “first-time homebuyer programs” along with your city or county name.
Closing Costs in Colorado
In Colorado and nationwide, closing costs (also known as settlement costs) typically run between 2% and 5% of the loan amount. These are the final funds needed to complete a real estate transaction and are usually paid out of pocket.
For example, if you’re buying a home in Denver at the median sale price of $587,750, closing costs could range from approximately $11,750 to $29,388.
If the buyer has already paid earnest money — a deposit that demonstrates serious purchase intent, typically 1–3% of the purchase price — that amount will be credited toward closing costs, reducing what’s owed at the table.
Common closing costs paid by the buyer include:
- Application fee
- Recording fee
- Origination or underwriting fee
- Appraisal fee
- Credit report fee
- PMI premium
- Title services
- Survey fee
- Title insurance premium
- Attorney costs or closing fees
The buyer may also owe pro-rata shares of any property taxes or HOA fees already paid by the seller.
Most Common Mortgage Types in Colorado
- Conventional: 76,849 loans
- FHA: 11,286 loans
- VA: 11,182 loans
- USDA: 222 loans
Top Purchase Lenders in Colorado by Volume
- Fairway Independent Mortgage Corporation: 4,946 loans
- Rocket Mortgage, LLC: 3,636 loans
- Loandepot.com, LLC: 2,640 loans
- Ent Credit Union: 2,550 loans
- Cherry Creek Mortgage, LLC: 2,223 loans
- Unknown: 2,125 loans
- Crosscountry Mortgage, LLC: 1,962 loans
- Firstbank: 1,677 loans
- Academy Mortgage Corporation: 1,673 loans
- Guaranteed Rate, Inc.: 1,667 loans
Top Refinance Lenders in Colorado by Volume
- U.S. Bank: 1,040 loans
- Rocket Mortgage, LLC: 974 loans
- Firstbank: 967 loans
- American Advisors Group: 818 loans
- Ent Credit Union: 767 loans
- Canvas Credit Union: 495 loans
- Unknown: 495 loans
- Wells Fargo Bank: 457 loans
- American Financing Corporation: 435 loans
- Finance Of America Reverse LLC: 432 loans
Top Cash-Out Refinance Lenders in Colorado by Volume
- Rocket Mortgage, LLC: 4,728 loans
- American Financing Corporation: 2,528 loans
- Loandepot.com, LLC: 1,291 loans
- Bellco: 1,059 loans
- Freedom Mortgage Corporation: 1,018 loans
- Nationstar Mortgage LLC: 988 loans
- Home Point Financial Corporation: 915 loans
- Wells Fargo Bank: 837 loans
- Ent Credit Union: 801 loans
- Pennymac Loan Services, LLC: 784 loans
Thinking about refinancing your Colorado home? See today’s rates and start your refinance with Refi.com — it only takes a few minutes to get started.
