Current Refinance Rates in California
MoneyGeek collected refinance rates in California to help you choose a loan type that best fits your situation. The table below includes California's most recent average rates for different mortgage types and terms.
- Type of LoanRateAPR
- Conventional 30 Year Fixed5.75 %5.75 %
- Conventional 20 Year Fixed5.884 %5.875 %
- Conventional 15 Year Fixed4.884 %4.875 %
- Conventional 10 Year ARM6.737 %6.375 %
- Conventional 7 Year ARM6.798 %6 %
Mortgage Refinance Rates From Top Lenders
What Is a Good Refinance Rate in California?
According to FRED’s economic data, California's average interest on a 15-year fixed-rate mortgage (FRM) is 4.38%, lower than the national average of 4.92%. Interest on a 30-year FRM in the state is 5.18%, again below the national average of 5.81%. And whereas a 5/1 adjustable-rate mortgage (ARM) in California currently has an average interest of 4.03%, the national average is higher at 4.41%.
Understand that a "good rate" is subjective and must take into account various aspects, such as loan terms, loan amount, credit score, income and debts. Mortgage interest rates also fluctuate almost every day. Do not be surprised, therefore, if a lender’s estimate changes from one week to the next.
The bottom line: to ensure you're getting your own best possible rate, it's important to compare quotes from several lenders.
Estimate Your New Monthly Mortgage Payment
MoneyGeek’s mortgage calculator below can estimate your new monthly mortgage refinance payment. Enter your mortgage information and use California’s average rates that we provided. Keep in mind that interest rates fluctuate daily and rely on various personal factors, including credit score, mortgage term, loan amount and debt-to-income ratio.
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Frequently Asked Questions About Refinance Rates in California
Mortgage refinancing requires considerable thought, attention and research. Below, MoneyGeek addresses some of the most frequently asked questions regarding California’s mortgage refinancing rates.
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- FRED. "Mortgage Rates." Accessed June 24, 2022.