Today’s Refinance Rates in Louisiana
Mortgage refinancing can help lower interest rates and lengthen loan terms, resulting in lower monthly payments. On average, a Louisiana homeowner has an outstanding mortgage of $151,851 and pays around $1,073 per month.
Current Refinance Rates in Louisiana
MoneyGeek reviewed the most current refinance rates in Louisiana to help you figure out which mortgage loan option will best suit your needs. You can compare average refinancing rates in the table below.
- Type of LoanRateAPR
- Conventional 30 Year Fixed5.25 %5.25 %
- Conventional 20 Year Fixed5.281 %5.25 %
- Conventional 15 Year Fixed4.646 %4.625 %
- Conventional 10 Year ARM6.208 %5.75 %
- Conventional 7 Year ARM6.329 %5.625 %
Mortgage Refinance Rates From Top Lenders
What Is a Good Refinance Rate in Louisiana?
Refinance rates in Louisiana are typically lower than the current national mortgage rates. The average interest rates in the nation are 4.45% for a 15-year fixed-mortgage rate (FRM), 5.30% for a 30-year FRM and 4.19% for a 5/1 adjustable-rate mortgage (ARM). In contrast, current refinance interest rates in Louisiana are 4.41%, 5.08% and 3.97%, respectively, for the same mortgages.
A good refinance rate in Louisiana is relative to your particular situation. Rates typically vary based on individual factors like credit score and debt-to-income ratio. Comparing quotes from several lenders will help you get the best refinance rates in Louisiana for your unique profile.
Keep in mind that refinance rates are subject to constant fluctuations, so estimates from mortgage lenders can change from day to day.
Estimate Your New Monthly Mortgage Payment
You can use MoneyGeek's mortgage calculator below to estimate your new monthly payments. Enter your mortgage information into the calculator and use Louisiana's average rates above for an estimate.
Remember that refinance rates can change daily. Personal factors like your credit score, debt-to-income ratio and the loan amount will also impact rates.
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Frequently Asked Questions About Refinance Rates in Louisiana
MoneyGeek answered commonly asked questions below to help you learn more about current refinance rates in Louisiana.
Read More on Mortgages
- FRED. "Mortgage Rates." Accessed July 21, 2022.