With the average interest rate on mortgages decreasing in all states between Q1 2025 and Q2 2025, the personal-finance company WalletHub today released its new report on the States Where Mortgage Interest Rates Are Decreasing the Most, based on proprietary user data.
South Dakota ranked 28th in the study. The state’s average mortgage interest rate in the second quarter was 5.59%.
| Decreasing the Most | Decreasing the Least |
| 1. Alabama 2. Mississippi 3. Iowa 4. Indiana 5. Ohio 6. Delaware 7. Arkansas 8. New Mexico 9. Louisiana 10. North Carolina | 41. Rhode Island 42. California 43. Connecticut 44. Massachusetts 45. New York 46. Hawaii 47. New Jersey 48. Wisconsin 49. Texas 50. Vermont |
For the full report and to see where your state ranks, please visit:
https://wallethub.com/edu/states-mortgage-interest-rates-change/141339