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Thinking of buying a home and taking out a mortgage in Oregon in 2026? If so, where will mortgage rates be next year? This is important information to understand, and this article will outline where mortgage rates are now and where they’re expected to be in 2026.
Oregon mortgage rate trends have brought some interesting trends over the recent past. For months, rates have been on a slight decline, despite them still being relatively high.
Here are the latest Oregon mortgage trends as of October 2026, with a forecast and outlook for the remainder of the year.
Throughout the latter part of 2017 through to late 2018, interest rates steadily climbed, reaching a peak of 4.94% for a 30-year fixed-rate mortgage in November 2018. By October 2023, rates peaked even higher at 7.79%. Since then, rates have come down somewhat.
By early 2025, the rate had come a little to 6.96%. As of late January 2026, the rate for a 30-year fixed-rate mortgage is now 6.06%.
Considering how much lower mortgage rates are today compared to a year ago, it makes sense to get into the market while you can still secure an affordable mortgage. The lower rates are, the less you’ll need to pay in interest over the life of your loan.
Oregon home buyers who are planning to buy a home in the near future should pay close attention to these mortgage rate trends, especially since home prices are also rising across the state.
Related: Is It Better To Buy an Oregon Home With Cash Or A Mortgage?
When mortgage rates rise sharply, refinancing activity tends to drop off. And the opposite tends to happen when mortgage rates dip. The latter is what we are seeing now. Recent mortgage rate trends in Oregon have caused an increase in the number of refinance loans.
According to the Mortgage Bankers Association (MBA), as of the third week of January 2026, the unadjusted Purchase Index was up 13% compared to the same week last year. Refinance activity surged, with the Refinance Index jumping 128% year over year. The average refinance loan amount also increased, reflecting that borrowers with larger balances tend to respond more quickly to shifts in interest rates.
What can we expect from Oregon mortgage rates in 2026? According to at least two expert sources, rates will likely dip slightly over the next 12 months or so.
Right now, the rate for a 30-year mortgage is 6.06%. According to the Mortgage Bankers Association, the average rate for a 30-year home loan may dip to 6% by the end of 2026, or even lower.
Related: Oregon mortgage loan programs
Do you plan to buy a home sometime soon with the help of an Oregon mortgage broker? Do you need a loan to help finance your purchase? We can help. Sammamish Mortgage has proudly served the Pacific Northwest for decades. We offer a variety of loan options including both FHA and conventional.
If you’re ready to start shopping for a home, we can pre-approve you for a loan to make you a more competitive buyer. We can also give you a mortgage rate quote based on the type of loan you need. Have questions about your financing options? We can answer those too! Please contact our friendly, knowledgeable staff to get started.
Sammamish Mortgage is a local, family-owned company based in Bellevue, WA. We serve all of Washington, Idaho, Colorado, Oregon, and California. We offer a wide variety of mortgage programs and products with flexible qualification criteria since 1992. Visit our website to get an instant rate quote for a mortgage in Oregon or to use our mortgage calculator. Or contact us today with any financing-related questions you have or to get the process started by getting pre-approved.
Whether you’re buying a home or ready to refinance, our professionals can help.
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No Obligation and transparency 24/7. Instantly compare live rates and costs from our network of lenders across the country. Real-time accurate rates and closing costs for a variety of loan programs custom to your specific situation.
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