Mortgage Rates in Morgan Hill, California — March 2026
Updated March 2026 | Based on Morgan Hill market data and regional lending conditions
Morgan Hill is a growing city in California with a population of 46,654. The current 30-year fixed mortgage rate in Morgan Hill is 6.76%, which is 0.11% above the national average. With a median home price of $767,000 and a 20% down payment of $153,400, homebuyers can expect a monthly principal and interest payment of approximately $3,984.
Current Mortgage Rates in Morgan Hill, CA
Below are the current average mortgage rates available in the Morgan Hill 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 | 6.76% | 6.65% | +0.11% |
| 15-Year Fixed | 6% | 5.89% | +0.11% |
| 5/1 ARM | 6.26% | 6.15% | +0.11% |
| FHA | 6.5% | 6.25% | +0.25% |
| VA | 6.25% | 6.05% | +0.2% |
| Jumbo | 7.01% | 6.85% | +0.16% |
Morgan Hill Housing Market Overview
The Morgan Hill housing market is competitive with prices well above the national median. The median household income in Morgan Hill is $77,100, and the cost of living index is 149.3 (national average = 100). Based on the 28% affordability rule, you would need an income of approximately $192,943 to comfortably afford the median-priced home in Morgan Hill, which exceeds the current median household income.
Monthly Payment Breakdown for Morgan Hill
Based on the median home price of $767,000 with 20% down ($153,400), here is what you can expect to pay monthly in Morgan Hill:
15-Year vs. 30-Year Mortgage in Morgan Hill
Choosing a 15-year mortgage in Morgan Hill at 6% instead of a 30-year at 6.76% would save you $502,200 in total interest over the life of the loan. However, your monthly payment would be $5,178 instead of $3,984 — an increase of $1,194 per month.
Calculate Your Morgan Hill 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 Morgan Hill
What are the current mortgage rates in Morgan Hill, CA?
As of March 2026, the average 30-year fixed mortgage rate in Morgan Hill, California is 6.76%, while the 15-year fixed rate is 6%. FHA loans average 6.5% and VA loans 6.25%. These rates are 0.11% above the national average of 6.65%.
How much is a monthly mortgage payment in Morgan Hill?
Based on the median home price of $767,000 with 20% down, the estimated monthly mortgage payment in Morgan Hill is $3,984 for principal and interest. Including property taxes of $518/month, the total monthly housing cost is approximately $4,502.
What income do I need to buy a home in Morgan Hill?
Using the 28% rule, you would need an annual income of approximately $192,943 to afford the median-priced home in Morgan Hill at $767,000. The median household income in Morgan Hill is $77,100. This means most households would need to either earn above the median or consider homes below $767,000.
Is Morgan Hill a good place to buy a home in 2026?
Morgan Hill has a higher cost of living than average with a cost of living index of 149.3 (national average = 100). The property tax rate in California is 0.81%, which is near the national average. Morgan Hill has a population of 46,654 and offers a balanced lifestyle.
Mortgage Rates in Other California Cities
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Last updated: March 2026. Rates are approximate averages based on regional lending data for the Morgan Hill, California area. Individual rates may vary by lender, credit score, loan amount, and other factors. Use our free calculator for a personalized estimate.