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.
Today’s Refinance Rates in Louisiana
On average, a Louisiana homeowner has an outstanding mortgage of $151,851 and pays around $1,073 per month. Mortgage refinancing can help lower interest rates and lengthen loan terms, resulting in lower monthly payments.
Lilian Mironga
Content Editor
Lilian Mironga is a content editor at MoneyGeek looking to grow in the personal finance space. Her mission is to lend a voice to the average person who wants to gain control of their finances. She muses that her joy revolves around exploring unique ways to make and save money and sharing these experiences that connect us. One financial tip at a time. Lilian has served in different creative and editorial capacities for websites and small businesses. One of her primary roles is to help enforce editorial lines across publications and convey clear messages to audiences. She previously worked as a managing editor for several pregnancy and parenting websites. She graduated from Mt. Kenya University with a Diploma in Clinical Medicine and Surgery. Over the years, she’s taken on assignments that utilize her health background. Lilian now dedicates her time to online publishing in different formatting styles and bringing a writer’s perspective to the editing process.
Lilian Mironga
Content Editor
Lilian Mironga is a content editor at MoneyGeek looking to grow in the personal finance space. Her mission is to lend a voice to the average person who wants to gain control of their finances. She muses that her joy revolves around exploring unique ways to make and save money and sharing these experiences that connect us. One financial tip at a time. Lilian has served in different creative and editorial capacities for websites and small businesses. One of her primary roles is to help enforce editorial lines across publications and convey clear messages to audiences. She previously worked as a managing editor for several pregnancy and parenting websites. She graduated from Mt. Kenya University with a Diploma in Clinical Medicine and Surgery. Over the years, she’s taken on assignments that utilize her health background. Lilian now dedicates her time to online publishing in different formatting styles and bringing a writer’s perspective to the editing process.
Updated: January 18, 2024
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Current Refinance Rates in Louisiana
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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.
By Mandy Sleight, Licensed Insurance Agent
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.
A good refinance rate in Louisiana will depend on your unique situation and the prevailing market rates. Current refinance rates in Louisiana range from 3.97% (5/1 ARM) to 5.08% (30-year FRM).
A bad refinance rate in Louisiana will make your mortgage payments more expensive. Refinancing your mortgage should help lower your interest or adjust your loan term for lower monthly payments.
A good refinance rate in Louisiana for a 30-year FRM should be around 5.08%. However, personal factors like your credit score will also impact what a good rate is for you.
A good refinance rate on a 15-year FRM in Louisiana is around 4.41%. Note that rates can fluctuate daily and may vary based on your unique profile.
In Louisiana, a good refinance interest rate on a 5/1 adjustable-rate mortgage is 3.97%.
Read More on Mortgages
sources
- FRED. "Mortgage Rates." Accessed July 21, 2022.