Check Latest Mortgage Rates for Salem in April 2026
Salem is a growing market in Oregon, the United States, with a median home price of approximately $375,000. Below you'll find the latest estimated mortgage rates for Salem, updated daily to reflect current lending conditions. Use these rates alongside our free calculators to estimate your monthly payment, compare loan types, and plan your home purchase or refinance with confidence.
Salem Mortgage Rates
Estimated rates as of 2026-04-04
| Product | Rate | APR | Points | Monthly / $100K |
|---|---|---|---|---|
| 30-Year Fixed | 6.95% | 7.07% | 0.7 | $662 |
| 15-Year Fixed | 6.20% | 6.30% | 0.5 | $855 |
| 5/1 ARM | 6.45% | 6.60% | 0.4 | $629 |
| FHA 30-Year | 6.65% | 6.83% | 0.3 | $642 |
| VA 30-Year | 6.35% | 6.43% | 0.0 | $622 |
| Jumbo 30-Year | 7.15% | 7.25% | 0.8 | $675 |
Rates shown are estimated averages based on current market conditions and may vary by lender, credit score, loan amount, and property type. Contact a licensed mortgage professional for personalized rate quotes.
Salem Mortgage Market Overview
The Salem housing market in Oregon represents an increasingly active market for mortgage lending in the United States. With a median home price of $375,000, buyers in Salem have access to a range of mortgage products from both national and local lenders.
The Salem market has seen growing interest from both local and national lenders, expanding mortgage availability for buyers. While the lending landscape is smaller than in major metros, buyers can still find competitive rates by comparing offers from community banks, credit unions, and online lenders.
When comparing mortgage rates in Salem, remember that your actual rate depends on several factors including your credit score, down payment amount, debt-to-income ratio, and the property type. Rates shown on this page reflect market-wide averages and may differ from the specific rate you're offered.
For the most accurate picture of your mortgage costs in Salem, Oregon, we recommend using our free mortgage payment calculator alongside these rates. This combination gives you a realistic understanding of both the interest rate landscape and your actual monthly payment obligation.
Frequently Asked Questions About Mortgages in Salem
Mortgage rates in Salem, Oregon are updated daily on this page. As of today, rates vary by loan type — for example, fixed-rate mortgages and adjustable-rate products will have different rates. Scroll up to our rate table for the most current figures. Remember that individual lender quotes may differ based on your credit profile and loan amount.
Salem is a growing housing market in the United States. Whether it's a good time to buy depends on your personal financial situation, career plans, and how long you plan to stay. Use our mortgage calculators to model different scenarios — compare monthly payments at current rates, estimate closing costs, and calculate your break-even point for buying vs. renting.
Mortgage rates in Salem tend to be slightly above the national average due to the smaller lending market compared to major metros. The rates displayed on this page reflect Salem-specific market conditions. For the most competitive rate, we recommend comparing offers from at least 3-5 lenders.
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Use current Salem rates with our free mortgage calculator to see your exact monthly payment, interest costs, and amortization schedule.