Mortgage Rates in Hastings, Minnesota — March 2026
Updated March 2026 | Based on Hastings market data and regional lending conditions
Hastings is a growing city in Minnesota with a population of 22,848. The current 30-year fixed mortgage rate in Hastings is 6.7%, which is 0.05% above the national average. With a median home price of $254,000 and a 20% down payment of $50,800, homebuyers can expect a monthly principal and interest payment of approximately $1,311.
Current Mortgage Rates in Hastings, MN
Below are the current average mortgage rates available in the Hastings area as of March 2026. Rates vary by lender, credit score, and loan-to-value ratio. Use our free calculator above to see your personalized estimate.
| Loan Type | Rate | National Avg | Difference |
|---|---|---|---|
| 30-Year Fixed | 6.7% | 6.65% | +0.05% |
| 15-Year Fixed | 5.95% | 5.89% | +0.06% |
| 5/1 ARM | 6.22% | 6.15% | +0.07% |
| FHA | 6.48% | 6.25% | +0.23% |
| VA | 6.23% | 6.05% | +0.18% |
| Jumbo | 6.95% | 6.85% | +0.1% |
Hastings Housing Market Overview
The Hastings housing market offers relatively affordable housing compared to many major cities. The median household income in Hastings is $75,800, and the cost of living index is 98.4 (national average = 100). Based on the 28% affordability rule, the median income in Hastings is sufficient to afford the median-priced home.
Monthly Payment Breakdown for Hastings
Based on the median home price of $254,000 with 20% down ($50,800), here is what you can expect to pay monthly in Hastings:
15-Year vs. 30-Year Mortgage in Hastings
Choosing a 15-year mortgage in Hastings at 5.95% instead of a 30-year at 6.7% would save you $164,340 in total interest over the life of the loan. However, your monthly payment would be $1,709 instead of $1,311 — an increase of $398 per month.
Calculate Your Hastings Mortgage Payment
Use our free calculator to get a personalized estimate based on your loan amount, interest rate, and term.
Open Free CalculatorFrequently Asked Questions About Mortgages in Hastings
What are the current mortgage rates in Hastings, MN?
As of March 2026, the average 30-year fixed mortgage rate in Hastings, Minnesota is 6.7%, while the 15-year fixed rate is 5.95%. FHA loans average 6.48% and VA loans 6.23%. These rates are 0.05% above the national average of 6.65%.
How much is a monthly mortgage payment in Hastings?
Based on the median home price of $254,000 with 20% down, the estimated monthly mortgage payment in Hastings is $1,311 for principal and interest. Including property taxes of $254/month, the total monthly housing cost is approximately $1,565.
What income do I need to buy a home in Hastings?
Using the 28% rule, you would need an annual income of approximately $67,071 to afford the median-priced home in Hastings at $254,000. The median household income in Hastings is $75,800. The median income is currently sufficient to meet this threshold.
Is Hastings a good place to buy a home in 2026?
Hastings offers a below-average cost of living with a cost of living index of 98.4 (national average = 100). The property tax rate in Minnesota is 1.2%, which is near the national average. Hastings has a population of 22,848 and offers a balanced lifestyle.
Mortgage Rates in Other Minnesota Cities
Related Tools & Guides
Last updated: March 2026. Rates are approximate averages based on regional lending data for the Hastings, Minnesota area. Individual rates may vary by lender, credit score, loan amount, and other factors. Use our free calculator for a personalized estimate.