Today’s Refinance Rates in Alabama

To help you find a suitable loan type for your needs, MoneyGeek gathered current refinance rates in Alabama. If you want to take advantage of refinancing your mortgage, we laid out the most updated rates in Alabama below.

Refinance rates in Alabama are currently more affordable than the national average. FRED’s economic data revealed that the national mortgage rates are 4.45% for a 15-year fixed-rate mortgage (FRM), 5.3% for a 30-year FRM and 4.19% for a 5/1 adjustable-rate mortgage (ARM). For the same loan types, current rates in Alabama are respectively 4.34%, 5.09% and 3.48%.

Please note that a “good” rate depends on different factors, including your credit score, income, loan amount, debts and terms. It’s normal for mortgage rates to change daily, meaning that this week’s rates can vary significantly from next week’s.

Be sure to compare rates between different lenders in Alabama. When you find a great deal, it’s best to act quickly to get a desirable rate for your needs.

Get a glimpse of what your monthly mortgage payment in Alabama could be using MoneyGeek’s mortgage calculator. Just input your mortgage details. Again, rates fluctuate and depend on personal factors like your debt-to-income ratio and credit score.

To guide you through the process, MoneyGeek answered commonly asked questions about mortgage refinance rates in Alabama.