WalletHub: New Jersey ranks 4th among states where mortgage rates are decreasing the least
NEW JERSEY — New Jersey ranks fourth among states where mortgage rates are decreasing the least, according to a new study by WalletHub.
The personal finance company compared proprietary user data on mortgage interest rates across the country. While average mortgage rates decreased in all states between the first and second quarters of 2025, the rate of decline varied widely.
WalletHub’s report, States Where Mortgage Interest Rates Are Decreasing the Most, highlights which states saw the largest and smallest drops. New Jersey placed near the bottom, indicating that homeowners and buyers in the state are seeing less relief compared to most of the nation.
New Jersey Stats
- Overall Rank: 47th
- Average Mortgage Interest Rate in Q2 2025: 6.85%
- Change in Average Mortgage Interest Rate (Q2 2025 vs. Q1 2025): -8.86%
Here are the top 5 states where mortgage interest rates are decreasing the most:
- Alabama
- Mississippi
- Iowa
- Indiana
- Ohio
Here are the top 5 states where mortgage interest rates are decreasing the least:
- Vermont
- Texas
- Wisconsin
- New Jersey
- Hawaii
To see the full list, click here.
