For a 15-year fixed-rate mortgage (FRM), FRED's economic data shows that Nevada's average interest rate (4.55%) is higher than the national average (4.45%). The interest rate on a 30-year fixed-rate mortgage in the state is 5.31%, which is higher than the national average of 5.30%. The average interest rate on a 5/1 ARM in Nevada is 4.46%, but the national average is lower at 4.19%.
A "good rate" depends on the borrower's individual situation — factors like loan term and amount, along with credit score and income, can affect rates. Mortgage interest rates are also constantly changing. The estimate you receive one day from one lender might be different a week later.
Finally, comparing quotes from many lenders is essential to ensuring that you're getting the best possible interest rate.
