Current Refinance Rates in Ohio
MoneyGeek gathered the latest refinance rates in Ohio to help you choose which loan option is the best for your needs and budget. The table below breaks down the state’s current rates for various mortgage types and terms.
- Type of LoanRateAPR
Mortgage Refinance Rates From Top Lenders
What Is a Good Refinance Rate in Ohio?
MoneyGeek’s research shows that the average mortgage rates in Ohio are:
- 4.58% for a 15-year FRM
- 5.21% for a 30-year FRM
- 4.59% for a 5/1 ARM
Data from The Federal Reserve Bank of St. Louis indicates that the national average mortgage rates are:
- 4.45% for a 15-year FRM
- 5.30% for a 30-year FRM
- 4.19% for a 5/1 ARM
Based on that, a 15-year FRM and a 5/1 ARM are more expensive in Ohio than the national average, while a 30-year FRM is cheaper.
A “good” rate is subjective and contingent on your loan amount, loan term, credit score, income and other factors. To get the best rates for your situation, we recommend shopping around and comparing lenders.
Mortgage refinance rates in Ohio change almost every day, so the quote you receive today from one provider may change significantly a week later.
Estimate Your New Monthly Mortgage Payment
Use MoneyGeek’s mortgage calculator to estimate how much you’ll pay for your mortgage refinancing. Enter your mortgage details and Ohio’s current refinance rates. Remember that interest rates change on an almost daily basis and depend on your loan preferences, credit score, income and other personal factors.
Frequently Asked Questions About Refinance Rates in Ohio
MoneyGeek answered some commonly asked questions about refinancing rates in Ohio to help you know more about the topic.
- Federal Reserve Bank of St. Louis. "Mortgage Rates." Accessed July 13, 2022.
- Experian. "Total Mortgage Debt Increases to $10.3 Trillion in 2021." Accessed July 13, 2022.