Today’s Refinance Rates in Tennessee

Updated: January 18, 2024

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Current Refinance Rates in Tennessee

MoneyGeek collected the latest mortgage refinance rate information for Tennessee homeowners. Listed below are the current average refinance rates in Tennessee.

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Mortgage Refinance Rates From Top Lenders

What Is a Good Refinance Rate in Tennessee?

The average rates in Tennessee for a 15-year FRM (4.30%) and 30-year FRM (5%) are currently lower than the national average, which are at 4.92% and 5.81%, respectively. However, the rate for a 5/1 ARM is higher in the state at 4.49%. The national average is currently 4.41%.

There is no universal definition of a good rate, as it depends on various factors such as the loan term, loan amount, score, income and debt. Shop around for several lenders and compare their rates to ensure you're getting the best deal for your unique situation.

Additionally, mortgage interest rates are subject to daily fluctuations. As a result, the quote you receive from a lender could change at a later date. Be sure to act quickly if you find a Tennessee refinance rate that works for you.

Estimate Your New Monthly Mortgage Payment

With MoneyGeek's mortgage calculator below, you can estimate your monthly payment with a refinanced rate. Use Tennessee's average mortgage rates in the calculator and enter your mortgage information. Depending on your debt-to-income ratio and credit score, your actual rate may vary.

Mortgage Refinance Calculator in Tennessee
Make sure refinancing your existing home loan will save you money.
Updated։ Jul 18, 2024
Fact Checked

By Mandy Sleight, Licensed Insurance Agent

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Frequently Asked Questions About Refinance Rates in Tennessee

Our MoneyGeek experts have gathered the most common questions about Tennessee mortgage refinancing rates so you can make an informed decision about refinancing your home.

What is a good refinance rate in Tennessee?
What is a bad refinance rate in Tennessee?
What is a good refinance interest rate on a 30-year fixed-rate mortgage in Tennessee?
What is a good refinance interest rate on a 15-year fixed-rate mortgage in Tennessee?
What is a good refinance interest rate on a 5/1 adjustable-rate mortgage in Tennessee?
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