Mortgage Rates in Olympia, Washington — March 2026
Updated March 2026 | Based on Olympia market data and regional lending conditions
Olympia is a growing city in Washington with a population of 55,605. The current 30-year fixed mortgage rate in Olympia is 6.57%, which is 0.08% below the national average. With a median home price of $445,000 and a 20% down payment of $89,000, homebuyers can expect a monthly principal and interest payment of approximately $2,267.
Current Mortgage Rates in Olympia, WA
Below are the current average mortgage rates available in the Olympia 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 | 6.57% | 6.65% | -0.08% |
| 15-Year Fixed | 5.81% | 5.89% | -0.08% |
| 5/1 ARM | 6.07% | 6.15% | -0.08% |
| FHA | 6.17% | 6.25% | -0.08% |
| VA | 5.97% | 6.05% | -0.08% |
| Jumbo | 6.77% | 6.85% | -0.08% |
Olympia Housing Market Overview
The Olympia housing market reflects moderate demand with prices near the national average. The median household income in Olympia is $62,250, and the cost of living index is 108.5 (national average = 100). Based on the 28% affordability rule, you would need an income of approximately $111,943 to comfortably afford the median-priced home in Olympia, which exceeds the current median household income.
Monthly Payment Breakdown for Olympia
Based on the median home price of $445,000 with 20% down ($89,000), here is what you can expect to pay monthly in Olympia:
15-Year vs. 30-Year Mortgage in Olympia
Choosing a 15-year mortgage in Olympia at 5.81% instead of a 30-year at 6.57% would save you $281,880 in total interest over the life of the loan. However, your monthly payment would be $2,968 instead of $2,267 — an increase of $701 per month.
Calculate Your Olympia 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 Olympia
What are the current mortgage rates in Olympia, WA?
As of March 2026, the average 30-year fixed mortgage rate in Olympia, Washington is 6.57%, while the 15-year fixed rate is 5.81%. FHA loans average 6.17% and VA loans 5.97%. These rates are 0.08% below the national average of 6.65%.
How much is a monthly mortgage payment in Olympia?
Based on the median home price of $445,000 with 20% down, the estimated monthly mortgage payment in Olympia is $2,267 for principal and interest. Including property taxes of $345/month, the total monthly housing cost is approximately $2,612.
What income do I need to buy a home in Olympia?
Using the 28% rule, you would need an annual income of approximately $111,943 to afford the median-priced home in Olympia at $445,000. The median household income in Olympia is $62,250. This means most households would need to either earn above the median or consider homes below $445,000.
Is Olympia a good place to buy a home in 2026?
Olympia has a moderate cost of living with a cost of living index of 108.5 (national average = 100). The property tax rate in Washington is 0.93%, which is near the national average. Olympia has a population of 55,605 and offers a balanced lifestyle.
Mortgage Rates in Other Washington Cities
Related Tools & Guides
Last updated: March 2026. Rates are approximate averages based on regional lending data for the Olympia, Washington area. Individual rates may vary by lender, credit score, loan amount, and other factors. Use our free calculator for a personalized estimate.