What You Need To Know About Today’s California Mortgage Rates
April 24, 2025 California mortgage rates are subject to volatility due to several years of persistent inflation post-COVID. Since late last year, California mortgage rates have been flat to slightly lower; however, that could change without notice if inflation moves higher. Check out the monthly K.O. Home Loan Solutions report on the news and events that are impacting mortgage rates.
Economic and Industry Factors That Might Impact Today’s California Mortgage Rates
Mortgage rates change whenever the market does, and sometimes that happens multiple times a day. Here are the economic and industry factors that might impact today’s mortgage rates.
Bond Market
The bond market, specifically the Mortgage-Backed Securities (MBS) market, is a major contributor to mortgage rate movement. Bond market volatility is bad for rates.
Inflation
When it comes to inflation impacting mortgage rates, there is a simple rule to follow: Higher inflation = higher rates. Lower inflation can lead to lower rates, but not always.
Jobs Report
Every month, usually on the first Friday of the month, there is a jobs report (8 am EST). If it’s stronger than expected, mortgage rates will generally be negatively impacted.
The Fed
The Fed does not directly impact mortgage rates, but they do influence the bond market, which then impacts mortgage rates. The Fed is the most powerful economic voice in the market.
Industry
A lot goes into determining a mortgage rate, and one of those factors is the internal industry dynamics. In times of “stress,” this can push mortgage rates higher until the stress subsides.
Lender
A lender’s operating cost and daily/monthly loan application volume can directly impact mortgage rates. Higher than anticipated costs and/or high volume leads to higher rates.
K.O. Home Loan Solutions provides relevant mortgage information so that clients can make an informed decision about their next mortgage transaction. If you have questions about the information provided and how it might impact your specific transaction, please be sure to contact us.
Loan Applicant Details That Impact Mortgage Rates
Here are the main loan applicant details that can impact mortgage rates.
Loan type
Loan amount
Credit score
Credit history
Debt-to-income ratio
County/location of the property
Loan-to-value ratio (down payment or equity if a refinance)
When obtaining your mortgage rate quotes from various California mortgage companies, be sure to discuss with the loan officer the details of your situation to obtain the most accurate quote possible.
Low rates, fast closings, and exceptional service.
Excellent customer service and money saving mortgages I am pleased to recommend Kevin and share my positive experience. I refinanced my home with Kevin, and the process was easy and resulted in significant monthly savings. Everything was done remotely, which was so convenient for my busy schedule. Paperwork was delivered for my signatures and then sent back to Kevin for processing. He stays in contact every year around the holidays, and would definitely work with Kevin again
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DonnaSandsmark
I had worked with Kevin before when I refinanced approximately 10 years ago, and have kept contact with him since. I occasionally contact Kevin when I'm curious about interest rates and Kevin is always responsive, professional, kind, and knowledgeable about what's going on in the mortgage world. More recently, my husband and I bought another property and Kevin was able to get us a wonderful rate, walked us through every step, and was very patient with an abnormally incompetent escrow company. He won't make promises he can't keep, and worked extremely hard to meet my deadlines. I have recommended Kevin to my family members and they were so impressed with him. He is seriously the best!
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Lorraine M
I have had the pleasure of working with Kevin as his closing agent for over 10 years! I admire Kevin greatly for the professional courtesy he has shown to my inside staff over our long tenure together. Kevin is a consummate professional that strives to provide the best service and guidance to his clients throughout the loan process. He is meticulous in this work and consistently maintains contact with us and his client throughout the transaction. I highly recommend Kevin for all of your mortgage needs. He is an absolute pleasure to work with!
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Andrea Y
It was a real pleasure working with Kevin on refinancing my mortgage loan. Kevin is very knowledgeable and worked with me every step of the way, making the entire process clear and easy from beginning to end. I particularly appreciated the fact that he quickly responded to and answered all of my questions literally overnight. I highly recommend him to anyone who is considering refinancing their mortgage; he is very courteous and easy to work with and very responsive to his clients’ needs. He made the whole process a pleasant experience. Thank you, Kevin!
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Rachel F
Kevin was recommended to us by a friend who had previously worked with him and my husband and I have now refinanced with Kevin 3 different times. He is absolutely AMAZING to work with. He is always on top of everything and keeps you updated through every step of the process. Anytime I had a question he was always quick to answer an email or a phone call. Anytime there was a drop in rates over the last year he would check in with us and let us know. I would highly recommend using Kevin if you are looking to refinance.
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Cheyenne S.
I'd like to thank Kevin for providing a great experience for a prospective first-time homebuyer. As a self-employed person, I've faced some challenges with applying for a home loan from the traditional big banks. On our phone call, Kevin was very kind and took the time to listen to my specific situation and challenges. Soon after our call, he crunched the numbers and provided me with some very helpful insight. After talking with Kevin I feel like I have a plan in place to apply for a home loan and once I'm ready I'm looking forward to reaching back out to Kevin and JB Mortgage Capital, Inc. Thanks again Kevin!
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Erik M.
As first time buyers, we had MANY questions throughout the process. Kevin was always incredibly helpful and patient with explaining details. We had a bit of a time crunch and Kevin took care of having everything done on time. We are so grateful for his services and highly recommend him to everyone!
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Christine H.
I have refinanced several times over the years. My refi with Kevin O'Connor was the easiest ever. He communicated everything clearly. He answered every question I had quickly. I did my homework and checked rates etc. first. Kevin had the best rates as well as outstanding service. If this sounds too good... sorry. It REALLY was great. I highly recommend Kevin. He is very professional
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Douglas Jameson
Kevin O’Connor is as fine a person as I have ever engaged in any business dealing. He is honest, straightforward, kind, patient, and helpful; so helpful, in fact, that through two refi’s, he helped save us over 25% on our monthly mortgage. Can’t recommend him highly enough. A true professional, through and through.
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John B
This is the third time I have worked with Kevin. Each experience has been excellent. Kevin will get you the best rate available and take the time to explain every step of the process. He is very straightforward with his approach and responsive whenever I had questions. I will continue to use Kevin in the future and recommend him to any family/friends when they are in need of a loan officer.
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Brian Keil
Kevin was recommended to us by a friend who had previously worked with him and my husband and I have now refinanced with Kevin 3 different times. He is absolutely AMAZING to work with. He is always on top of everything and keeps you updated through every step of the process. Anytime I had a question he was always quick to answer an email or a phone call. Anytime there was a drop in rates over the last year he would check in with us and let us know. I would highly recommend using Kevin if you are looking to refinance.
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Cheyenne Halley
I have had the pleasure of working with Kevin as his closing agent for over 10 years! I admire Kevin greatly for the professional courtesy he has shown to my inside staff over our long tenure together. Kevin is a consummate professional that strives to provide the best service and guidance to his clients throughout the loan process. He is meticulous in this work and consistently maintains contact with us and his client throughout the transaction. I highly recommend Kevin for all of your mortgage needs. He is an absolute pleasure to work with!
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Andrea Ybarra
After looking at different lenders and doing some due diligence, we decided to go with Kevin. He provided us with the most competitive rates, prices and closing time frames. We began our refi adventure with Kevin in mid-January and closed mid-February. He made the process incredibly easy and straight forward. Kevin was outstanding in communicating with us as well. He answered all of our questions promptly and was always on top of everything. As the main contact for our refi, he was present every step of the way! He is knowledgeable and puts things into perspective for you. Kevin truly looks out for his client's best interest. We really appreciate all of his hard work and we would definitely recommend Kevin for any mortgage needs you may have. It was a pleasure to work with Kevin and we look forward to working with him again!
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Cindy
A Happy Repeat Customer Kevin is incredible. We've done several mortgages with him, and he is always extremely informative, walking us through the process and patiently answering our (all-too-frequent) questions along the way. He is very proactive--there will be no surprises--and will communicate ahead of any documents being sent out or communications coming from the lender. Kevin is professional, courteous, and very knowledgeable, and after working with him many times over the years, we certainly trust his judgment, insight, and advice. We have no reason to look elsewhere for our mortgage needs, and enthusiastically and highly recommend him.
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Jim Tavares
Excellent service! I have worked with Kevin for many years for both new loan and refi. He is very diligent in his work and has kept me updated in all stages of the process.
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zuser201707081610420
I keep coming back. This is the third time I have worked with Kevin. Each experience has been excellent. Kevin will get you the best rate available and take the time to explain every step of the process. He is very straightforward with his approach and responsive whenever I had questions. I will continue to use Kevin in the future and recommend him to any family/friends when they are in need of a loan officer.
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Brian K
Kevin: Very easy to deal with and returns calls/e-mails promptly. We have used Kevin for re-fi's and home purchases.
If you want fast service and quick answers to your loan questions, Kevin is your guy.
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Dsloss8
I am not sure it is possible to work with a mortgage person who is better to work with than Kevin O’Connor. Three years ago I wanted to refinance and I needed a co-signer to be able to do so. I had spoken with two other mortgage brokers and they told me they couldn’t do it for me. I was getting discouraged. I mentioned this to a friend who told me to contact Kevin and that he was great, having already helped my friend get a refinance. I did and immediately felt comfortable with him. He could not promise anything but he worked magic as far as I am concerned. Last year, when mortgage rates dropped, I wanted to refinance again. And again I needed a co-signer; this time a relative who can be a little testy and attitudinal. Kevin was un-phased and knew exactly how to work with him. We got another refi with a good rate and no points. Kevin is a great communicator, is willing to answer any and all my questions, always with an even and positive attitude. And he apparently really knows the ins and outs of the business and it is clear that he is committed to helping and doing the best for his people. He does. And like I said, I can’t imagine teaming up with someone better.
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Jr I O C
Kevin O'Connor Kevin was a pleasure to work with. He was well-informed, meticulous, and very patient with all of my questions. He walked me through every step so I 100% understood every line items on the mortgage. He was very upfront and clear. You are in good hands with Kevin.
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Susan Gray
Highly recommend! We found Kevin’s company searching on-line, he had excellent reviews, a Five star rating and we now know why. Kevin is extremely professional and outstanding in the services he offers. We had such a hassle free excellent experience with Kevin for our home refinance. We Highly recommend him, we will be referring all our family and friends to Kevin at JB Mortgage Capital, Inc. Tami & John
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tamifoor
have used Kevin O'Connor for 2 refinance loans as rates changed. He is informative and straightforward. answered every question clearly. Kevin made the whole process as easy and comfortable as possible. NO surprises along the way. I would, actually do, highly recommend Kevin for purchase or refinance.
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S4oaks
Amazing Customer Service Experience Kevin was awesome through the entire re-fi process and did a great job walking me through what to expect, answering my questions, and giving me excellent advice. He is incredibly knowledgeable and his attention to detail and customer service is superb. I would absolutely recommend anyone looking to buy or re-fi to contact him because he knows his stuff and will ensure a great experience.
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Heather C.
It is always a pleasure to work with Kevin. We have refinanced twice with him and each time he was on top of things. I never had to follow up with him. I would get regular updates from him. He would ensure we get the best rates and even advise on when is the best time to refinance.
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Shikha M.
We found Kevin’s company searching on-line, he had excellent reviews, a Five star rating and we now know why. Kevin is extremely professional and outstanding in the services he offers. We had such a hassle free excellent experience with Kevin for our home refinance. We Highly recommend him, we will be referring all our family and friends to Kevin at JB Mortgage Capital, Inc.
Tami & John
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Tami S
K.O. Home Loan Solutions Mortgage Learning Center
Have you ever thought about the following:
Does the Fed set mortgage rates (they don’t)? What are government mortgages? Can someone please explain the Loan Estimate? Can I get someone to co-sign for my mortgage (yes, you can)? What exactly is “buying down the rate?”
As a top-rated mortgage broker in California, we believe in educating our clients about important topics related to mortgage rates. Here is a list of frequently asked questions related to today’s California mortgage rates.
What Are The California Conforming Loan Limits?
California’s conforming loan limits are updated every year by the Federal Housing Finance Agency (FHFA). You can check the current limits on K.O. Home Loan Solutions website. Limits vary by county and property type.
What does it mean to “lock in” a mortgage rate?
It simply means that if the market moves up or down, your locked-in mortgage rate will not change. If it’s not locked in, your rate can adjust with the market. So, if you want to lock in today’s California mortgage rates, contact your loan officer (by email) to make that request.
How Do I Find The Best California Mortgage Rates?
It’s not as hard as you think. I have a simple five-step process for finding the best California mortgage rates for your next purchase or refinance transaction. A top-rated mortgage broker is generally going to have the best California mortgage rates. The reasons are simple: they have access to more than one funding source, and their cost structure to operate is generally lower than a bank or a direct lender.
When you apply, are you required to lock in your mortgage rate?
No, at least not with us. Some mortgage companies require you to lock in your mortgage rate at the time of application, and others won’t let you lock in your rate until closing (or after the underwriter approves the application).
What is a mortgage rate float-down option?
In some circumstances, we can offer clients a “mortgage rate float down” option when locking in their rate. A mortgage rate float down is when the market improves enough after you lock that the lender offers you better terms. Improvement generally has to be 0.25% or greater before a lender will consider a float-down.
How should I compare today’s California mortgage rates online?
When comparing today’s California mortgage rates online, it’s important to know that each website has listed rates based on different home loan scenarios. And some websites have dozens of lenders listed, which means each one of those home loan lenders has its own loan scenario.
It’s important to keep these four facts in mind when you compare today’s California mortgage rates online.
The rates listed are not quotes.
These websites do not always provide rates for your specific loan scenario.
Mortgage rates are not set in “stone”; they can and often change daily.
These websites make money when you “click” on a lender’s rate listing.
Online mortgage rates for California lenders are a rough snapshot of today’s California mortgage rates for a particular loan scenario. Our website displays an “assumption” link so that it’s easy to learn what home loan scenario our mortgage rates are based on.
Can you explain the difference between a fixed-rate mortgage vs. an adjustable-rate mortgage?
A fixed-rate mortgage is where your mortgage rate and your payment never change.
An adjustable-rate mortgage is when your mortgage rate and monthly payment can adjust. Typically, the rate and payment stay the same for a short period of time (such as 5, 7, or 10 years), and then the rate and payment adjust every year after that.
The benefit of a fixed-rate mortgage is certainty and stability. You always know your mortgage rate and monthly payment amount since they never change.
The benefit of an adjustable-rate mortgage is a potentially lower mortgage rate and monthly payment.
What is “qualifying income,” and how does it impact your mortgage rate?
Qualifying income is the amount of money you earn that can be used to determine if the underwriter can approve your home loan application.
And yes, qualifying income does impact your mortgage rate. The more qualifying income you have, the more mortgage rate options you will have.
What is a mortgage APR?
Your mortgage APR is a rate that represents the costs you are paying and the interest rate your home loan is based on. It’s important to know that not all loan officers calculate the APR correctly. To get your best reading of the mortgage cost, obtain all the fees and costs in writing.
What is a California lender closing cost credit?
Sometimes, a California lender will issue a closing cost credit at closing. This credit will help reduce your closing costs (lender fees, title, escrow fees, etc.). Not every loan is eligible for this; be sure to discuss your options for obtaining a closing cost credit with your loan officer.
What is daily interest?
When you complete your transaction, you should know you will pay daily interest to your new lender. This interest is charged on all new first-lien mortgages and starts the day the loan is funded.
What are Discount Points and Loan Origination fees, and how do they impact your mortgage rate?
Today’s California mortgage rates can come with Discount points and/or Loan Origination fees.
These costs/fees are based on a percentage of the loan amount. So, if you have a $300,000 mortgage and are paying one origination (or one discount), you are paying $3,000 in costs to obtain the quoted rate. Two points equal $6,000 in costs.
Your mortgage rate is impacted by the presence or lack of Discount Points and/or Origination fees. The industry norm is this: the more Discount Points/Loan Origination fees you pay, the lower your mortgage rate will be (to a certain extent).
The fewer Discount Points/Loan Origination fees you pay, the higher your mortgage rate will be.
A mortgage lender might or might not charge points and/or Origination fees. Top-rated mortgage brokers like us provide a breakdown of costs/fees for every loan they provide. If you have questions, be sure to ask your loan officer.
What is the Loan Estimate, and does it show your mortgage rate lock?
The Loan Estimate is a document that your mortgage broker provides. It discloses your mortgage rate, term length if you have impounds, and costs/fees. It also has information about your APR and whether another lender can service the loan.
Some home loan applicants think that if they receive a Loan Estimate, then their rate and terms are “locked in.” That is not the case unless the “YES” box is checked at the top of page one of the Loan Estimate next to “RATE LOCK.”
When locking in a mortgage rate, how important is your credit history?
Very important! Your credit score directly impacts your rate. And the key to getting a low mortgage rate is a high credit score!
Understanding what is on your credit report will give you the vital information you need to shop for a new loan. If there are any errors, be sure to correct them, especially if they are causing your interest rate to increase.
If you have credit card balances above 30% of your credit limit, try to pay them down 60-90 days before applying for a home loan. Once you go above a 30% ratio, it negatively affects your credit.
Low rates, fast closings, and exceptional service.
About The Author
Loan Officer Kevin O'Connor has over 17 years of experience as a Mortgage Loan Originator and is a trusted resource for mortgage education and information. He's the content creator of K.O. Home Loan Solutions and is licensed by the state of California and the Nationwide Mortgage Licensing System. He has a top rating with the Better Business Bureau, Google, Yelp, and Zillow. You can contact him at 1-800-550-5538. CA DRE #01499872 / NMLS #247447
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