Today’s Refinance Rates in Colorado
It's common for homeowners to refinance their mortgage if they want to shorten their loan term or lock in a lower interest rate. Colorado has the eighth most expensive average mortgage rate at roughly $1,342 per month. This is $183 more than the national average.
Using data from S&P Global, MoneyGeek gathered the most up-to-date refinance rates in The Centennial State. Mortgage refinance rates in Colorado are 4.22% on a 15-year fixed-rate mortgage (FRM), 5.03% on a 30-year FRM and 4.35% on a 5/1 adjustable-rate mortgage (ARM). Our guide on Colorado's refinance rates will help you get a reasonable deal.
Current Refinance Rates in Colorado
To help you find the best loan option for your financial needs, MoneyGeek compiled current refinance rates in Colorado. See the table below for terms and rates that best fit your situation.
- Type of LoanRateAPR
- Conventional 30 Year Fixed5.274 %5.25 %
- Conventional 20 Year Fixed5.375 %5.375 %
- Conventional 15 Year Fixed4.539 %4.5 %
- Conventional 10 Year ARM6.145 %5.625 %
- Conventional 7 Year ARM6.325 %5.625 %
Mortgage Refinance Rates From Top Lenders
What Is a Good Refinance Rate in Colorado?
The Federal Reserve Bank of St. Louis released data on national going rates — 4.45% on a 15-year FRM, 5.3% on a 30-year FRM and 4.19% on a 5/1 ARM. Colorado's estimates are cheaper at 4.22% on a 15-year FRM and 5.03% on a 30-year FRM. However, the average interest rate on a 5/1 ARM in Colorado is slightly higher at 4.35%.
A "good" rate depends on your financial situation. If you're looking to refinance your mortgage, assess your loan terms, loan amount, credit score, income and debts to find a good deal in Colorado. MoneyGeek strongly recommends comparing quotes from different lenders to lock in the best possible rate for your situation.
It's important to note that mortgage interest rates shift nearly every day. Consequently, your estimate from a lender today may drastically differ in a week.
Estimate Your New Monthly Mortgage Payment
If you need help estimating your mortgage refinance payment, input your mortgage information into MoneyGeek's calculator. Remember, rates vary almost daily and depend on personal factors such as your credit score and loan amount.
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Frequently Asked Questions About Refinance Rates in Colorado
If you're still on the fence about refinancing your mortgage in Colorado, MoneyGeek answered the most frequently asked questions.
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- FRED. "Mortgage Rates." Accessed July 11, 2022.