30-Year Fixed Mortgage Refinance Interest Rates in Pittsburgh, PA
Explore 30-year fixed mortgage refinance rates in Pittsburgh, PA over time.
Pennsylvania Current Interest Rate: 6.189% · National Avg: 6.192%
Timeframe
Daily refinance averages provided by the Mortgage Research Center.
Compare mortgage rates in Pittsburgh, Pennsylvania
Showing results for: 30-Year Fixed refinance offers for Single Family or Townhome properties in PA, 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 Pittsburgh?
In Pittsburgh's hot market with 18.8% 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 $187,600 loan (80% of Pittsburgh's $234,500 median) from 7% to 6% saves $123/month. With closing costs around $4,690, you break even in 38 months. The 30-year term keeps payments low while Pittsburgh's appreciation builds equity automatically.
Should I Do Cash-Out Refinancing to 30-Year in Pittsburgh?
With 18.8% appreciation in Pittsburgh, cash-out refinancing makes sense if you have substantial equity. If your home appreciated from $234,500 to $269,675 over 3 years, you could access up to $28,140 while keeping 20% equity. Popular uses: high-ROI renovations (which compound with Pittsburgh'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 Pittsburgh?
Monthly savings depend on your rate reduction. Refinancing $187,600 from 7% to 6% saves $123/month in principal and interest. However, your total PITI payment in Pittsburgh includes $309/month property tax (at 1.58% of home value). Your actual payment drops from approximately $1,707 to $1,584 total. Over 30 years, you'll save over $44k in interest-plus Pittsburgh's appreciation builds additional equity.
What Are 30-Year Refinance Closing Costs in Pittsburgh?
Closing costs in Pittsburgh typically run 2-3% of your loan amount. On a $187,600 refinance, expect $3,752-$5,628, including appraisal ($400-700), title insurance, lender fees (0.5-1%), and escrow setup. Divide closing costs by monthly savings to find break-even: $4,690 ÷ $123 = 38 months. In hot markets like Pittsburgh, strong appreciation shortens effective break-even since rising home values increase refinanceable equity over time.
How Does Pittsburgh's Property Tax Affect 30-Year Refinancing?
Property taxes at 1.58% of Pittsburgh's home values add $309/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 Pittsburgh homes appreciate 18.8% annually, your assessed value-and thus property tax-may increase over the loan's life.