Mortgage Rates in Laurel, Mississippi — March 2026
Updated March 2026 | Based on Laurel market data and regional lending conditions
Laurel is a growing city in Mississippi with a population of 18,491. The current 30-year fixed mortgage rate in Laurel is 6.6%, which is 0.05% below the national average. With a median home price of $142,000 and a 20% down payment of $28,400, homebuyers can expect a monthly principal and interest payment of approximately $726.
Current Mortgage Rates in Laurel, MS
Below are the current average mortgage rates available in the Laurel 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 | 6.6% | 6.65% | -0.05% |
| 15-Year Fixed | 5.87% | 5.89% | -0.02% |
| 5/1 ARM | 6.16% | 6.15% | +0.01% |
| FHA | 6.43% | 6.25% | +0.18% |
| VA | 6.18% | 6.05% | +0.13% |
| Jumbo | 6.85% | 6.85% | 0% |
Laurel Housing Market Overview
The Laurel housing market offers relatively affordable housing compared to many major cities. The median household income in Laurel is $44,400, and the cost of living index is 74.2 (national average = 100). Based on the 28% affordability rule, the median income in Laurel is sufficient to afford the median-priced home.
Monthly Payment Breakdown for Laurel
Based on the median home price of $142,000 with 20% down ($28,400), here is what you can expect to pay monthly in Laurel:
15-Year vs. 30-Year Mortgage in Laurel
Choosing a 15-year mortgage in Laurel at 5.87% instead of a 30-year at 6.6% would save you $90,180 in total interest over the life of the loan. However, your monthly payment would be $951 instead of $726 — an increase of $225 per month.
Calculate Your Laurel 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 Laurel
What are the current mortgage rates in Laurel, MS?
As of March 2026, the average 30-year fixed mortgage rate in Laurel, Mississippi is 6.6%, while the 15-year fixed rate is 5.87%. FHA loans average 6.43% and VA loans 6.18%. These rates are 0.05% below the national average of 6.65%.
How much is a monthly mortgage payment in Laurel?
Based on the median home price of $142,000 with 20% down, the estimated monthly mortgage payment in Laurel is $726 for principal and interest. Including property taxes of $95/month, the total monthly housing cost is approximately $821.
What income do I need to buy a home in Laurel?
Using the 28% rule, you would need an annual income of approximately $35,186 to afford the median-priced home in Laurel at $142,000. The median household income in Laurel is $44,400. The median income is currently sufficient to meet this threshold.
Is Laurel a good place to buy a home in 2026?
Laurel offers a below-average cost of living with a cost of living index of 74.2 (national average = 100). The property tax rate in Mississippi is 0.8%, which is below the national average. Laurel has a population of 18,491 and offers a very affordable lifestyle.
Mortgage Rates in Other Mississippi Cities
Related Tools & Guides
Last updated: March 2026. Rates are approximate averages based on regional lending data for the Laurel, Mississippi area. Individual rates may vary by lender, credit score, loan amount, and other factors. Use our free calculator for a personalized estimate.