Mortgage Rates in McAlester, Oklahoma — March 2026
Updated March 2026 | Based on McAlester market data and regional lending conditions
McAlester is a growing city in Oklahoma with a population of 17,783. The current 30-year fixed mortgage rate in McAlester is 6.68%, which is 0.03% above the national average. With a median home price of $162,000 and a 20% down payment of $32,400, homebuyers can expect a monthly principal and interest payment of approximately $835.
Current Mortgage Rates in McAlester, OK
Below are the current average mortgage rates available in the McAlester 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 | 6.68% | 6.65% | +0.03% |
| 15-Year Fixed | 5.94% | 5.89% | +0.05% |
| 5/1 ARM | 6.21% | 6.15% | +0.06% |
| FHA | 6.47% | 6.25% | +0.22% |
| VA | 6.22% | 6.05% | +0.17% |
| Jumbo | 6.93% | 6.85% | +0.08% |
McAlester Housing Market Overview
The McAlester housing market offers relatively affordable housing compared to many major cities. The median household income in McAlester is $43,800, and the cost of living index is 87.7 (national average = 100). Based on the 28% affordability rule, the median income in McAlester is sufficient to afford the median-priced home.
Monthly Payment Breakdown for McAlester
Based on the median home price of $162,000 with 20% down ($32,400), here is what you can expect to pay monthly in McAlester:
15-Year vs. 30-Year Mortgage in McAlester
Choosing a 15-year mortgage in McAlester at 5.94% instead of a 30-year at 6.68% would save you $104,580 in total interest over the life of the loan. However, your monthly payment would be $1,089 instead of $835 — an increase of $254 per month.
Calculate Your McAlester 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 McAlester
What are the current mortgage rates in McAlester, OK?
As of March 2026, the average 30-year fixed mortgage rate in McAlester, Oklahoma is 6.68%, while the 15-year fixed rate is 5.94%. FHA loans average 6.47% and VA loans 6.22%. These rates are 0.03% above the national average of 6.65%.
How much is a monthly mortgage payment in McAlester?
Based on the median home price of $162,000 with 20% down, the estimated monthly mortgage payment in McAlester is $835 for principal and interest. Including property taxes of $113/month, the total monthly housing cost is approximately $948.
What income do I need to buy a home in McAlester?
Using the 28% rule, you would need an annual income of approximately $40,629 to afford the median-priced home in McAlester at $162,000. The median household income in McAlester is $43,800. The median income is currently sufficient to meet this threshold.
Is McAlester a good place to buy a home in 2026?
McAlester offers a below-average cost of living with a cost of living index of 87.7 (national average = 100). The property tax rate in Oklahoma is 0.84%, which is near the national average. McAlester has a population of 17,783 and offers a very affordable lifestyle.
Mortgage Rates in Other Oklahoma Cities
Related Tools & Guides
Last updated: March 2026. Rates are approximate averages based on regional lending data for the McAlester, Oklahoma area. Individual rates may vary by lender, credit score, loan amount, and other factors. Use our free calculator for a personalized estimate.