Yes. Rates on owner occupied primary homes are typically 1% lower than a rental property. This is due to higher risk associated with investment properties. Simply put, if your life turns upside down due to unforeseen financial stress, you are more likely to do everything you can to save the property that you occupy with your family versus a rental property that might be empty or if you have issues with collecting rent from your tenant. Thus, makes sense why lenders adjust mortgage rates based on risk factors. Lower the risk, the better the rate. Higher the risk, the higher the rate.