The chart shows a steady rise in mortgage interest rates across all ten states from 2020 to 2025, reflecting national housing market shifts and tightening lending conditions. Illinois records the highest rate by 2025 at 5.1%, increasing from 3.9% in 2020, while New York and Ohio follow at 5.0%, highlighting their competitive but costly real estate environments. California rises from 3.5% in 2020 to 4.7% in 2025, and Florida increases from 3.7% to 4.8%, maintaining upward trends. Texas climbs from 3.6% to 4.9%, aligning with broader national mortgage increases. New Jersey (4.85%), Arizona (4.85%), and Michigan (4.9%) also show notable growth. Meanwhile, Georgia records the lowest rate in 2025 at 4.6%, though still rising sharply from 3.7% in 2020. The data indicates a nationwide interest rate escalation averaging over 1.2 percentage points in five years, driven by inflation, monetary policy adjustments, and dynamic housing market demands, placing pressure on homebuyers and lenders alike.
| Year | California | Florida | Texas | New York | Illinois | New Jersey | Arizona | Ohio | Michigan | Georgia |
|---|---|---|---|---|---|---|---|---|---|---|
| 2020 | 3.5 | 3.7 | 3.6 | 3.8 | 3.9 | 3.65 | 3.75 | 3.8 | 3.85 | 3.7 |
| 2021 | 3.2 | 3.5 | 3.4 | 3.6 | 3.6 | 3.45 | 3.5 | 3.7 | 3.6 | 3.4 |
| 2022 | 3.8 | 3.9 | 4.0 | 4.1 | 4.3 | 4.05 | 4.15 | 4.2 | 4.1 | 3.9 |
| 2023 | 4.1 | 4.3 | 4.2 | 4.5 | 4.6 | 4.25 | 4.3 | 4.4 | 4.5 | 4.0 |
| 2024 | 4.4 | 4.5 | 4.5 | 4.8 | 4.9 | 4.55 | 4.65 | 4.7 | 4.5 | 4.3 |
| 2025 | 4.7 | 4.8 | 4.9 | 5.0 | 5.1 | 4.85 | 4.85 | 5.0 | 4.9 | 4.6 |
