What is the Average Cost of a Loan? Average Loan Price

The average cost of a loan can vary between states but the national rate for a 30 year fixed rate loan is 4.87% while the 15 year fixed is 4.24%. The 30 year fixed jumbo is 5.46% and the 15 year fixed jumbo is 4.87%. The adjustable rate mortgage (ARM) offers a lower interest rate but the rate is linked to an economic index and is therefore adjusted periodically. Both fixed and adjustable rates have advantages and disadvantages.