The average offered interest rate for all 50 states is 4.84 percent and the average offered loan amount is $224,297, the study found. But homeowners in California, New Jersey, Washington, and Massachusetts tend to snag the lowest interest rates. The average interest rate in California is 4.74 percent, followed by 4.75 percent in New Jersey and 4.76 percent in Washington and Massachusetts.
On the other hand, homeowners in New York, Iowa, and Arkansas tend to have the highest mortgage rates. In New York, the average mortgage rate is 4.96 percent, followed by 4.93 percent in Iowa and 4.92 percent in Arkansas. See full article here