30-Year Fixed Mortgage Refinance Interest Rates in St. Louis, MO
Explore 30-year fixed mortgage refinance rates in St. Louis, MO over time.
Missouri Current Interest Rate: 6.033% · National Avg: 6.04%
Timeframe
Daily refinance averages provided by the Mortgage Research Center.
Compare mortgage rates in St. Louis, Missouri
Showing results for: 30-Year Fixed refinance offers for Single Family or Townhome properties in MO, total loan amount of $228,000.
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Rate data provided by RateUpdate.com. Displayed by ICB, a division of Mortgage Research Center, NMLS #1907, Equal Housing Opportunity. Rates and fees are estimates and subject to change without notice. Payments do not include taxes and insurance premiums. Actual payments may be higher. Not all lenders participate in this marketplace. Loan availability and terms may vary by state and lender. Lender offers, including badges like “Lowest APR” or “Lowest Payment,” are based only on results displayed here and may not reflect the absolute lowest offer available in the market. Rate and product details
When Should I Refinance to 30-Year Fixed in St. Louis?
In St. Louis's hot market with 17.9% annual appreciation, refinance when you can reduce your rate by 0.75%+ or access equity. If you purchased 2-3 years ago, rapid appreciation likely built substantial equity. Refinancing a $187,760 loan (80% of St. Louis's $234,700 median) from 7% to 6% saves $123/month. With closing costs around $4,694, you break even in 38 months. The 30-year term keeps payments low while St. Louis's appreciation builds equity automatically.
Should I Do Cash-Out Refinancing to 30-Year in St. Louis?
With 17.9% appreciation in St. Louis, cash-out refinancing makes sense if you have substantial equity. If your home appreciated from $234,700 to $269,905 over 3 years, you could access up to $28,164 while keeping 20% equity. Popular uses: high-ROI renovations (which compound with St. Louis's growth), investment properties, debt consolidation. Cash-out 30-year rates run 0.25-0.5% higher than rate-and-term, but the extended term keeps payments manageable even with a larger loan balance.
How Much Will I Save Refinancing to 30-Year in St. Louis?
Monthly savings depend on your rate reduction. Refinancing $187,760 from 7% to 6% saves $123/month in principal and interest. However, your total PITI payment in St. Louis includes $190/month property tax (at 0.97% of home value). Your actual payment drops from approximately $1,589 to $1,466 total. Over 30 years, you'll save over $44k in interest-plus St. Louis's appreciation builds additional equity.
What Are 30-Year Refinance Closing Costs in St. Louis?
Closing costs in St. Louis typically run 2-3% of your loan amount. On a $187,760 refinance, expect $3,755-$5,633, including appraisal ($400-700), title insurance, lender fees (0.5-1%), and escrow setup. Divide closing costs by monthly savings to find break-even: $4,694 ÷ $123 = 38 months. In hot markets like St. Louis, strong appreciation shortens effective break-even since rising home values increase refinanceable equity over time.
How Does St. Louis's Property Tax Affect 30-Year Refinancing?
Property taxes at 0.97% of St. Louis's home values add $190/month to a median-priced home. When refinancing to a 30-year fixed, your principal/interest payment changes but property tax stays constant. If you're quoted a new rate, calculate P&I savings ($123 in our 7%→6% example), then add back property tax and insurance for true monthly cost. Also remember: as St. Louis homes appreciate 17.9% annually, your assessed value-and thus property tax-may increase over the loan's life.