California mortgage rates November 12, 2026: rate vs APR gap
On November 12, 2026 at 12:00 PM ET, RateVerdict priced a $400,000 30-year fixed California refinance with 780+ credit and the rate closest to $0 at closing was 6.750% (6.791% APR, $500 in points), with the APR 0.041 above the rate, against 0.334 at the 6.125% top row (source: RateVerdict California rate table).
The short answer for November 12, 2026
RateVerdict priced one California loan at 12:00 PM ET on Thursday, November 12, 2026: a $400,000 30-year fixed refinance with a credit score of 780 or higher, priced against dozens of lenders (source: RateVerdict California rate table, as of November 12, 2026, 12:00 PM ET).
The rate closest to $0 at closing was 6.750%, with a 6.791% APR and $500 in points. The top of the table was 6.125%, with a 6.459% APR and $12,864 in points (same source and time).
Why the APR sits further above some rates
The APR (annual percentage rate) is the yearly cost of the loan once points and certain other costs are counted, not just the interest rate. The more you pay up front for a rate, the further its APR sits above it.
On California's Thursday table, the top row, 6.125%, came with $12,864 in points and a 6.459% APR, a gap of 0.334. At 6.750%, with $500 in points, the gap was 0.041. At 7.500%, which came with $9,804 in lender credit, it was 0.024 (source: RateVerdict California rate table, as of November 12, 2026, 12:00 PM ET).
| Rate | APR | APR minus rate | Cost or credit at closing |
|---|---|---|---|
| 6.125% | 6.459% | 0.334 | $12,864 cost |
| 6.250% | 6.512% | 0.262 | $9,856 cost |
| 6.375% | 6.578% | 0.203 | $7,416 cost |
| 6.500% | 6.645% | 0.145 | $4,988 cost |
| 6.625% | 6.690% | 0.065 | $1,500 cost |
| 6.750% | 6.791% | 0.041 | $500 cost |
| 6.875% | 6.899% | 0.024 | $1,248 credit |
| 7.000% | 7.024% | 0.024 | $3,192 credit |
| 7.125% | 7.149% | 0.024 | $4,800 credit |
| 7.250% | 7.274% | 0.024 | $6,616 credit |
| 7.375% | 7.399% | 0.024 | $8,332 credit |
| 7.500% | 7.524% | 0.024 | $9,804 credit |
How to use the gap when you compare quotes
- Two quotes at the same rate can carry different APRs. The one with the higher APR usually has more cost built in.
- A quote with a lender credit can still show an APR above its rate, because other loan costs count toward the APR too.
- Compare quotes on the same day, for the same loan amount and lock period, with the rate, the APR and the dollars at closing side by side.
Today's California table shows every rate with its APR and its cost or credit in dollars, no sign-up needed.
See today's California ratesA California rule worth knowing
California's documentary transfer tax does not apply to an instrument given to secure a debt, such as a deed of trust recorded for a refinance. (source: Cal. Rev. & Tax. Code section 11921).
See today's rate for your scenario
This post is one sample loan on one day. The California rate table on this site shows the current weekday table, and the California rate history page keeps past weekday snapshots. To compare states, see mortgage rates by state. To price your own balance, home value and credit range, use the rate tool on this site, with every rate shown beside its APR.
Common questions
What was the 30-year fixed refinance rate closest to $0 at closing in California on November 12, 2026?
It was 6.750% with a 6.791% APR and $500 in points for the $400,000 California sample refinance with 780+ credit (source: RateVerdict California rate table, November 12, 2026, 12:00 PM ET).
What is the difference between a mortgage rate and its APR?
The rate sets your interest. The APR folds in points and certain other loan costs, so it shows the yearly cost of borrowing. The more you pay up front, the further the APR sits above the rate.
How far apart were rate and APR at the top of the California table on November 12, 2026?
6.125% had a 6.459% APR, a gap of 0.334, with $12,864 in points (source: RateVerdict California rate table, November 12, 2026, 12:00 PM ET).
Why is the APR above the rate even when a lender credit is given?
Other loan costs still count toward the APR. At 7.500%, with $9,804 in lender credit, the APR was 7.524% on November 12, 2026 (source: RateVerdict California rate table).
Does a California refinance pay documentary transfer tax?
California's documentary transfer tax does not apply to an instrument given to secure a debt, such as a deed of trust recorded for a refinance (source: Cal. Rev. & Tax. Code section 11921).
See today's California rates
Today's California table shows every rate with its APR and its cost or credit in dollars, no sign-up needed.
Sources
- RateVerdict, California mortgage rates today (weekday midday snapshot)as of November 12, 2026, 12:00 PM ET
- RateVerdict, California mortgage rate historyas of November 12, 2026 snapshot
- RateVerdict, mortgage rates by stateas of November 12, 2026
- RateVerdict, rate tool for your own loanas of November 12, 2026
- Cal. Rev. & Tax. Code section 11921as of checked October 2026
This article is educational and is not an offer to lend, a rate lock, or a commitment to lend. Rates and terms depend on a complete application and are subject to credit approval, underwriting, and program guidelines. Any figure shown comes from our pricing engines or a cited source with its as-of date. See how we get our numbers on the methodology page.
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