Current Refinance Rates in Rhode Island
To help you choose the loan that best meets your financial goals, MoneyGeek has compiled mortgage refinance rates in Rhode Island. The table below displays the most recent average rates for different mortgage types and terms in Rhode Island.
- Type of LoanRateAPR
Mortgage Refinance Rates From Top Lenders
What Is a Good Refinance Rate in Rhode Island?
Every Rhode Island homeowner will have a different idea of what they consider to be a “good” refinance rate. The rates depend on their specific loan conditions, credit score and other factors.
In Rhode Island, the average rates are 4.51% for a 15-year fixed-rate mortgage (FRM), 5.17% for a 30-year FRM and 3.84% for a 5/1 adjustable-rate mortgage (ARM).
The Federal Reserve Bank of St. Louis estimates that the average mortgage rates nationwide for the previously mentioned loan categories are 4.92%, 5.81% and 4.41%, respectively. Rhode Island's average mortgage interest rates are currently lower than the national average rates.
Mortgage refinance rates in Rhode Island may fluctuate frequently. It's likely that your actual refinance rate in Rhode Island will change from the estimate you received today. You can find the best offer for your needs by comparing rates from various mortgage companies.
Estimate Your New Monthly Mortgage Payment
Depending on various factors, rates may vary from day to day based on the market and between homeowner profiles. You can calculate the monthly payment you will need to finance your property with MoneyGeek's mortgage calculator. To get started, enter your mortgage information using the rates above.
Frequently Asked Questions About Refinance Rates in Rhode Island
MoneyGeek answers frequently asked questions to help you fully understand important details regarding refinance rates in Rhode Island.
- Federal Reserve Bank of St. Louis. "Mortgage Rates." Accessed July 14, 2022.