Mortgage Rates in Redmond, Oregon — March 2026
Updated March 2026 | Based on Redmond market data and regional lending conditions
Redmond is a growing city in Oregon with a population of 33,274. The current 30-year fixed mortgage rate in Redmond is 6.69%, which is 0.04% above 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 $2,295.
Current Mortgage Rates in Redmond, OR
Below are the current average mortgage rates available in the Redmond 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 | 6.69% | 6.65% | +0.04% |
| 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 | 6.94% | 6.85% | +0.09% |
Redmond Housing Market Overview
The Redmond housing market reflects moderate demand with prices near the national average. The median household income in Redmond is $68,900, and the cost of living index is 106.1 (national average = 100). Based on the 28% affordability rule, you would need an income of approximately $114,729 to comfortably afford the median-priced home in Redmond, which exceeds the current median household income.
Monthly Payment Breakdown for Redmond
Based on the median home price of $445,000 with 20% down ($89,000), here is what you can expect to pay monthly in Redmond:
15-Year vs. 30-Year Mortgage in Redmond
Choosing a 15-year mortgage in Redmond at 5.94% instead of a 30-year at 6.69% would save you $287,460 in total interest over the life of the loan. However, your monthly payment would be $2,993 instead of $2,295 — an increase of $698 per month.
Calculate Your Redmond 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 Redmond
What are the current mortgage rates in Redmond, OR?
As of March 2026, the average 30-year fixed mortgage rate in Redmond, Oregon is 6.69%, while the 15-year fixed rate is 5.94%. FHA loans average 6.47% and VA loans 6.22%. These rates are 0.04% above the national average of 6.65%.
How much is a monthly mortgage payment in Redmond?
Based on the median home price of $445,000 with 20% down, the estimated monthly mortgage payment in Redmond is $2,295 for principal and interest. Including property taxes of $382/month, the total monthly housing cost is approximately $2,677.
What income do I need to buy a home in Redmond?
Using the 28% rule, you would need an annual income of approximately $114,729 to afford the median-priced home in Redmond at $445,000. The median household income in Redmond is $68,900. This means most households would need to either earn above the median or consider homes below $445,000.
Is Redmond a good place to buy a home in 2026?
Redmond has a moderate cost of living with a cost of living index of 106.1 (national average = 100). The property tax rate in Oregon is 1.03%, which is near the national average. Redmond has a population of 33,274 and offers a balanced lifestyle.
Mortgage Rates in Other Oregon Cities
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Last updated: March 2026. Rates are approximate averages based on regional lending data for the Redmond, Oregon area. Individual rates may vary by lender, credit score, loan amount, and other factors. Use our free calculator for a personalized estimate.