What Are Today’s California Mortgage Rates?

California mortgage rates in September 2026 reflect one of the most complex regional mortgage markets in the United States. With the Federal Reserve holding rates at 3.50-3.75% through July 2026 and a 56-66% probability of a September 15-16 rate hike, California borrowers face a rate environment where timing matters. The Golden State’s exceptional home values, particularly in the Bay Area, Los Angeles metro, San Diego, and Orange County,  mean California mortgages often exceed conforming loan limits, requiring specialty jumbo pricing. As a lender headquartered in San Diego, California with 25 years of experience across all 58 California counties, I have watched California rate patterns closely through the 2022-2026 rate cycle. This guide covers today’s California rates across all major loan products.

Written by John Tappan | NMLS #394171 | Fact-Checked ✓

Today’s California Mortgage Rates by Product Type in 2026

Here are approximate September 2026 California mortgage rates by product type, based on Freddie Mac PMMS and Curinos benchmark data:

Purchase and Refinance Rates:

• 30-Year Fixed Conforming: 6.71% (Freddie Mac PMMS Sept 3, 2026)
• 15-Year Fixed Conforming: 6.04% (Freddie Mac PMMS Sept 3, 2026)
• 5/6 ARM Conforming: 6.35% average
• 30-Year Fixed Jumbo: 6.95%-7.25% (California high-cost areas)
• 15-Year Fixed Jumbo: 6.35%-6.65%
• 30-Year Fixed FHA: 6.14% (national average)
• 30-Year Fixed VA: 6.40% (national average)

Home Equity Rates:

• HELOC National Average: 7.16% (Curinos Aug 26, 2026)
• Fixed Rate Home Equity Loan: 7.35% (Curinos Aug 26, 2026)
• California Specialty 2nd Mortgage: 7.75%-9.50% depending on LTV and credit

California rates typically run 0.05-0.25% above national averages due to higher property values, jumbo loan requirements, and California-specific licensing costs for out-of-state lenders.

California Home Purchase Loan Rates in 2026

California purchase loan rates vary significantly based on loan size, credit score, and property location.

Standard California Purchase Loan Rates:

• Conforming (up to $1,209,750 in high-cost counties): 6.71% 30-year fixed
• Jumbo ($1.2M+ in high-cost, $806K+ elsewhere): 6.95%-7.25%
• Super jumbo ($3M+): 7.25%-7.75%
• FHA (up to $1,209,750): 6.14% average

California High-Cost Counties (2026 Conforming Limit $1,209,750):

• Los Angeles County
• San Francisco Bay Area (all 9 counties)
• Orange County
• San Diego County
• Santa Barbara County
• Marin, Napa, Sonoma
• Santa Cruz, Santa Clara, San Mateo, Alameda, Contra Costa

Purchase pricing depends heavily on down payment percentage (10%, 15%, 20%+ tiers) and FICO score. Best rates for 740+ FICO borrowers with 20%+ down.

California Refinance Mortgage Rates in 2026

California mortgage refinance rates align closely with purchase rates but include additional considerations for cash-out and rate/term programs.

California Refinance Rate Ranges:

• Rate/Term Refi Conforming: 6.71% 30-year fixed
• Cash-Out Refi Conforming: 7.15%-7.45% (rate premium for cash-out)
• Rate/Term Jumbo: 6.95%-7.35%
• Cash-Out Jumbo: 7.25%-8.15%
• FHA Streamline: 6.05%-6.35% (streamlined for existing FHA borrowers)

With 82.8% of California homeowners locked into first mortgages below 6% per Redfin data, most current California refinance activity focuses on cash-out refi (accessing equity) rather than rate/term refi (rate reduction). Rate/term refi makes sense primarily for borrowers with above-market first mortgages from 2022-2023.

California HELOC Rates in 2026

California HELOC rates connect to Prime Rate plus lender margins, giving borrowers variable-rate access to home equity.

California HELOC Rate Structure:

• Prime Rate: 7.50% (September 2026)
• HELOC Rate = Prime + Margin (1.00-3.00%)
• Best California HELOC rates: 7.16% (Prime with negative margin for excellent credit)
• Standard California HELOC rates: 7.50%-8.50% (Prime + 0.00-1.00%)
• Sub-prime California HELOC: 8.50%-11.00% (Prime + 1.00-3.50%)

California HELOC Advantages:

• Variable rate but starts lower than fixed HE loan
• Revolving access to equity for 10-year draw period
• 20-year repayment period after draw
• Interest-only payments during draw period at some lenders

California HELOCs are particularly popular in high-equity markets like the Bay Area, LA, and San Diego where accumulated equity often exceeds $500,000.

California Home Equity Loan Rates in 2026

California home equity loan rates offer fixed-rate stability for borrowers who prefer predictable payments over HELOC flexibility.

California Home Equity Loan Rate Ranges:

• National Average Fixed HE Loan: 7.35% (Curinos Aug 26, 2026)
• California Fixed HE Loan Prime Tier: 7.25%-8.25% (740+ FICO, 80% CLTV)
• California Fixed HE Loan Standard Tier: 8.00%-9.50% (680-739 FICO)
• California Fixed HE Loan Non-Prime: 9.50%-12.50% (620-679 FICO)

Home Equity Loan Advantages Over HELOC:

• Fixed rate for full loan term
• Predictable monthly payments
• Clear payoff date
• Better for large one-time cash needs (major renovation, debt consolidation)

California home equity loans work well for borrowers with sub-6% first mortgages who want to preserve their low first mortgage rate while accessing equity for specific purposes.

Why California Rates Vary by Metro Area

California mortgage rates vary between metro areas based on several factors:

Property Value Impact: Higher-value markets (Bay Area, coastal Southern California) push more loans into jumbo territory, which carries rate premiums of 0.25-0.75% above conforming.

Lender Competition: Urban markets with more lenders (LA, San Francisco, San Diego) tend to have tighter rate margins due to competition. Rural California counties may see wider margins.

Property Type Concentration: Condo-heavy markets (San Francisco, downtown LA) may face rate premiums for non-warrantable condos. Single-family markets get standard pricing.

California-Specific Costs: California mortgage recording fees, title insurance costs (California uses different structure than most states), and property tax escrow requirements add to closing costs beyond pure rate.

Wildfire Insurance Impact: Post-2020 California wildfires elevated insurance costs, which factor into DTI calculations affecting loan qualification and effective borrowing cost.

Major California Metros Home Value Context:

• San Francisco/Bay Area: $1.2M+ median
• Los Angeles: $985K median
• San Diego: $945K median
• Orange County: $1.2M+ median
• Sacramento: $565K median
• Fresno: $425K median

Case Study: California Homeowner Cash-Out Refinance

Borrower Profile: Jennifer and Mark C., Bay Area homeowners, wanted to refinance in Q2 2026.

Situation:

• $1,850,000 home value (San Mateo County)
• $875,000 existing mortgage at 7.35% (originated Q4 2023)
• 785 combined FICO
• $215,000 target cash-out for kitchen/bathroom renovation
• New loan target: $1,090,000

California Refinance Solution: Jennifer and Mark refinanced with a cash-out refinance. Since $1,090,000 sits under San Mateo County’s $1,209,750 high-cost conforming limit, the loan qualified as conforming rather than jumbo — saving them approximately 0.50% in rate:

• New loan amount: $1,090,000 (conforming for high-cost county)
• Rate: 7.25% (30-year fixed, cash-out refi premium)
• Monthly P&I: $7,435 (vs $6,020 on old $875K at 7.35%)
• Cash proceeds: $215,000 to renovation
• Closing costs: $18,500

Result: Jennifer and Mark’s payment increased by $1,415/month, but they gained $215,000 cash for major home improvements projected to add $180K+ to home value. Their rate decreased slightly (7.35% → 7.25%) despite adding cash-out, capturing modest rate improvement plus renovation funding. The conforming loan classification saved them approximately $360/month vs jumbo pricing.

Reviewed by John Tappan | NMLS #394171 | DRE #01022216 

Disclosures: The mortgage interest rates displayed on this page are for informational purposes only and reflect general market data at the time of publication or last update. Actual rates and loan terms available to you will depend on multiple factors including but not limited to: your credit score, debt-to-income ratio, loan-to-value ratio, property type, occupancy status, loan amount, loan program, discount points, lock-in period, and other individual qualification criteria. Rates and terms are subject to change without notice and may not be available at the time of your application.

Rates shown may reflect specific assumptions including: excellent credit (740+ FICO), 20% down payment or equivalent equity position, primary residence occupancy, single-family detached property, standard conforming loan amount, no cash-out, 30-day rate lock, and other assumed borrower parameters. Your actual rate may be higher or lower based on your specific loan scenario.

BD Nationwide is mot a lender. The information provided on this page is for educational and informational purposes only and does not constitute a loan approval, pre-approval, commitment to lend, or offer to extend credit. All loans are subject to underwriting review, credit approval, appraisal, income verification, and other qualification requirements. Loan approval, terms, and pricing are determined at the sole discretion of the individual lender and are subject to change without notice.