California Mortgage Refinance Interest Rates

Average mortgage rates in California

Interest rate over time in California

Compare mortgage rates in California

Showing results for: 15-Year Fixed and 30-Year Fixed refinance offers for Single Family or Townhome properties in CA, 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

California housing market snapshot

Hey California homeowners! After a sluggish couple of years, the Golden State market is waking up in a big way.

Why This Matters for Your Refinance (The LTV Factor)

You might be wondering, "Why does my neighbor’s home sale price matter to my mortgage?" It all comes down to Loan-to-Value (LTV).

• The Formula: (Mortgage Balance) ÷ (Current Home Value) = LTV %
• The CA Benefit: With values projected to rise over 4% this year, your LTV is likely dropping naturally. This "passive" equity growth can help you drop Private Mortgage Insurance (PMI) faster or qualify for a better rate without paying down extra principal.

Property taxes in California

Thanks to Proposition 13, your tax rate is low and your assessed value growth is capped, which is a huge protection for long-time owners.

California refinance programs & homeowner perks

How Often Do Mortgage Rates Change in CA?

Mortgage rates in California can change daily based on a variety of factors including market demand, economic indicators, and decisions made by the Federal Reserve. It's important to stay updated on these changes to secure the best rate.

What Factors Influence Mortgage Rates in CA?

Several key factors influence mortgage rates in California, including:

1. Credit Score: Higher scores can qualify for lower rates.
2. Loan Term: Shorter terms often have lower rates.
3. Loan Type: Different loan types (fixed, adjustable, FHA, VA) have different rates.
4. Economic Conditions: National and state economic conditions play a significant role.

How Can I Get the Best Mortgage Rate in CA?

1. Improve Your Credit Score: Pay off debts and keep credit card balances low to boost your credit score.
2. Compare Multiple Lenders: Get quotes from at least three different lenders to ensure you get the best rate.
3. Consider Different Loan Types: Evaluate various loan products to find the best fit for your financial situation.
4. Lock Your Rate: Once you find a favorable rate, consider locking it in to avoid future increases.
5. Increase Your Down Payment: A larger down payment can reduce the loan amount and potentially qualify you for a better rate.

Why Should I Consider Refinancing in CA?

Refinancing in California can help you lower your monthly payments, reduce your interest rate, or shorten your loan term. It can also allow you to tap into your home's equity for other financial needs. However, it's important to consider the closing costs and fees associated with refinancing.

What is the Process for Getting a Mortgage in CA?

1. Get Pre-Approved: Start by getting pre-approved by a lender to understand your budget.
2. Shop for a Home: Work with a real estate agent to find a home that fits your needs and budget.
3. Make an Offer: Submit an offer on the home you want to purchase.
4. Complete the Loan Application: Provide necessary documentation and complete the loan application with your lender.
5. Close the Loan: Review and sign the closing documents to finalize the mortgage.