Today’s Refinance Rates in Hawaii
Updated: February 22, 2023
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Current Refinance Rates in Hawaii
MoneyGeek compiled the latest refinance rates in Hawaii to help you in choosing the best loan option for your needs. See the table below for the current average rates in the state.
Mortgage Refinance Rates From Top Lenders
What Is a Good Refinance Rate in Hawaii?
According to FRED’s economic data, the average mortgage rates in the United States are 4.45% for a 15-year fixed-rate mortgage (FRM), 5.30% for a 30-year FRM and 4.19% for a 5/1 adjustable-rate mortgage (ARM). In comparison, Hawaii’s refinance rates are lower at 4.00%, 4.85% and 3.77%, respectively.
Locking in a good interest rate is critical when refinancing your mortgage. That said, a “good” rate will depend on several factors, including loan term, loan amount, credit score and debt-to-income ratio.
You can get the best deal by shopping around and comparing quotes from different lenders. Once you find a desirable rate, make sure to act fast as mortgage rates change nearly every day.
Estimate Your New Monthly Mortgage Payment
You can get an estimate of your new monthly mortgage refinance payment by using Hawaii’s refinance rates above in MoneyGeek’s mortgage calculator. Enter your current mortgage information and use the Hawaii rates we provided. Remember that a mortgage company will base your actual rate on numerous factors, like credit score and debt-to-income ratio.
Frequently Asked Questions About Refinance Rates in Hawaii
MoneyGeek answered some frequently asked questions below to help you better understand mortgage refinance rates in Hawaii.
A “good” refinance rate in Hawaii depends on your loan term, loan amount, credit score and debt-to-income ratio, among others.
A refinance rate higher than your original mortgage rate defeats the purpose of refinancing your mortgage.
On average, the current refinance rate in Hawaii for a 30-year FRM is 4.85%. A comparable rate is considered “good.”
The current average refinance rate in Hawaii for a 15-year FRM is 4.00% and anything in that range is considered “good.”
The average refinance rate in Hawaii for a 5/1 ARM is currently 3.77%. A rate in line with this is a good rate.
sources
- FRED. "Mortgage Rates." Accessed July 12, 2022.