Today’s Refinance Rates in Arkansas

According to economic data from the Federal Reserve Bank of St. Louis, national mortgage rates are 4.45% for a 15-year FRM, 5.30% for a 30-year FRM and 4.19% for a 5/1 ARM. This indicates that the average refinance rates in Arkansas for a 15-year and 30-year FRM are both cheaper than the national rate at 4.44% and 5.08%, respectively. However, the state’s interest rate for a 5/1 ARM is slightly higher at 4.51%.

Remember, a “good” rate is subjective. Each homeowner should consider their loan terms, loan amount, credit score, income and debts to determine whether a rate is good or not. It also helps to compare rate estimates from different lenders to find the best deal for you.

Additionally, mortgage rates fluctuate almost daily, so today’s estimates might be drastically different from next week’s rates.

To help estimate your monthly mortgage payment, you can use MoneyGeek’s calculator below. However, it’s important to be aware that this is only an estimate; your actual rate may vary due to fluctuating refinance rates and personal factors like your mortgage term, debt-to-income ratio and credit score.

To help you make the best financial decision, MoneyGeek provided answers to some of the most frequently asked questions about refinance rates in Arkansas.