Whether you are buying a home in the fast-paced Midwest market or refinancing an existing property, tracking current mortgage rates is the first step toward securing your financial future. At Metropolitan Mortgage Corporation, we combine the personalized service of a local lender with the competitive pricing of a national network.
We shop live wholesale rates daily across more than 30 national investors to deliver low rates and fast, 21-day closings across the bi-state area.
Today’s Featured Mortgage Rates
Rates shown below are illustrative baseline averages for Kansas and Missouri. For specific regional pricing, choose your local market below.
| TERM | Example Payment* | |||
|---|---|---|---|---|
| 30-Year Fixed | 360 payments of $1,847 at 6.250% | |||
| 20-Year Fixed | 240 payments of $2,171 at 6.125% | |||
| 15-Year Fixed | 180 payments of $2,471 at 5.625% | |||
| 7 Yr ARM | Initial: $1,775 (adjusts after 7 years) | |||
| 5 Yr ARM | Initial: $1,727 (adjusts after 5 years) |
*Example based on $300,000 loan. Assumptions: FICO 780+, 30% down, $300,000+ loan amount. Learn more about Conventional Loans.
| TERM | Example Payment* | |||
|---|---|---|---|---|
| 30-year fixed | 360 payments of $1,775 at 5.875% | |||
| 20-year fixed | 240 payments of $2,106 at 5.750% | |||
| 15-year fixed | 180 payments of $2,431 at 5.375% |
*Example based on $300,000 loan (includes MIP). Assumptions: FICO 640+, 3.5% down. Learn more about FHA loans.
| TERM | Example Payment* | |||
|---|---|---|---|---|
| 30-year fixed | 360 payments of $1,797 at 5.990% | |||
| 20-year fixed | 240 payments of $2,128 at 5.875% | |||
| 15-year fixed | 180 payments of $2,451 at 5.500% |
*Example based on $300,000 loan. VA funding fee may apply. Assumptions: FICO 640+, 0% down (for eligible veterans). Learn more about VA Loans.
| TERM | Example Payment* | |||
|---|---|---|---|---|
| 30-year fixed | 360 payments of $1,847 at 6.250% |
*Example based on $300,000 loan (includes guarantee fee). Assumptions: FICO 640+, 0% down (rural areas only). Learn more about USDA loans.
| TERM | Example Payment* | |||
|---|---|---|---|---|
| 30-Year Jumbo | 360 payments of $6,076 at 6.125% (for $1,000,000 loan) | |||
| 15-Year Jumbo | 180 payments of $8,506 at 6.125% (for $1,000,000 loan) | |||
| 7 Yr ARM | Initial: $5,915 (adjusts after 7 years) | |||
| 5 Yr ARM | Initial: $5,836 (adjusts after 5 years) |
*Rates subject to change. Terms and conditions apply. Assumptions: FICO 680+, 25% down, loans over $832,750. Learn more about Jumbo Loans.
| TERM | Example Payment* | |||
|---|---|---|---|---|
| 30-Year Fixed | 360 payments of $1,847 at 6.250% | |||
| 20-Year Fixed | 240 payments of $2,171 at 6.125% | |||
| 15-Year Fixed | 180 payments of $2,471 at 5.625% | |||
| 7 Yr ARM | Initial: $1,775 (adjusts after 7 years) | |||
| 5 Yr ARM | Initial: $1,751 (adjusts after 5 years) | |||
*Example based on $300,000 loan. Assumptions: FICO 780+, 30% down, $300,000+ loan amount. Learn more about refinancing.
View Local Rates & Market Insights Near You
Because real estate markets and property tax nuances vary significantly between communities, we provide hyper-local rate breakdowns and specific lending programs for our primary service regions. Select your area below for local market insights, dedicated loan officers, and neighborhood success stories:
Geographic State Hubs
- Kansas Mortgage Rates – View state lending caps, programs, and baseline data.
- Missouri Mortgage Rates – Explore Show-Me State programs and down payment assistance.
Featured Local Metros
- Kansas City Mortgage Rates – Bi-state coverage spanning MO and KS core metro markets.
- St. Louis Mortgage Rates – Core metro area rate trackers and regional parameters.
- Johnson County Home Loans – Targeted calculations for Overland Park, Olathe, and JoCo.
Understanding Your Home Loan Options
Finding the lowest interest rate is only half the battle; choosing the right loan structure ensures your monthly payment aligns perfectly with your long-term wealth goals.
Conventional Loans
The standard for home buyers with stable credit histories. Conventional options allow for down payments as low as 3% and offer highly customizable terms. If you are starting your buying journey, explore our targeted home purchase loan strategies to see if conventional rules fit your profile. Once you reach 20% equity, private mortgage insurance (PMI) is automatically eliminated.
FHA Loans
An excellent fit for first-time homebuyers or individuals building back their credit scores. Backed by the Federal Housing Administration, these loans feature flexible qualification rules and a low 3.5% down payment threshold.
VA Loans
Exclusive, premium financing for active-duty service members, veterans, and eligible surviving spouses. VA loans require 0% down and feature no monthly mortgage insurance (PMI), making them one of the most powerful wealth-building tools available.
Mortgage Refinancing
Already own your home? We offer diverse avenues to adapt your current mortgage to shifting market changes through a tailored mortgage refinance strategy. Optimize your equity through two primary paths:
- Rate & Term Refinance: Lower your monthly payments or shorten your loan duration to eliminate interest faster.
- Cash-Out Refi: Tap your accumulated home equity to fund home renovations or consolidate high-interest debt structures.
Frequently Asked Questions About Midwest Mortgage Rates
How often do mortgage rates change?
Mortgage rates fluctuate daily—and sometimes multiple times per day—based on economic indicators, inflation data, and Federal Reserve policies. Securing a mortgage pre-approval allows you to monitor these shifts and execute a “rate lock” when market pricing is favorable.
What factors impact my personal interest rate quote?
While macroeconomic indicators establish baseline market rates, your individual rate quote depends heavily on your credit score, down payment size, loan-to-value ratio, property type (e.g., single-family home vs. multi-unit condo), and chosen loan program.
What is the difference between an interest rate and an APR?
The interest rate is the primary percentage cost you pay annually to borrow the principal loan amount. The Annual Percentage Rate (APR) is a broader calculation that incorporates the interest rate plus administrative costs, lender fees, and processing items, offering a more accurate look at the total annual cost of the loan.
Ready to Lock in Your Rate?
Don’t navigate the shifting housing market alone. Work with an established, family-owned regional lender that has guided families across Kansas and Missouri since 1997.
- Apply Online Now – Get fully pre-approved in under 10 minutes using our secure digital portal.
- Call Our Lending Desk: Speak directly with a licensed loan specialist at (913) 642-8300 (Overland Park Hub) or (855) 313-2480 (Kansas City Desk).