Arizona Mortgage Refinance

The median home price in Arizona (population 3,969,611) is approximately $188,384 with recent homes selling for $480,000 in Scottsdale (85266), $140,000 in Payson (85541) and $136,000 in Tucson (85748). Refinancing in Arizona can help homeowners’ lower monthly payments. Mortgage refinance rates in Arizona on a 30 year fixed rate mortgage are 4.73% APR to 5.33% APR with the 15 year product coming in between 4.20% APR to 4.81% APR. If an adjustable rate mortgage is a better fit, Arizona lenders are offering a rate of 4.48% APR on a 10/1. When it comes to comparing mortgage rates, Arizona homeowners should review similar loan types and amounts to arrive at an informed rate decision. Also, when rate shopping in Arizona, note that the lowest advertised rate is typically reserved for borrowers with above-average credit. Another consideration is to review loan structures carefully in order to fully understand all refinance terms and conditions. In terms of home values, Arizona home values range from $93,893 in Goodyear (85338) to $755,591 in Scottsdale (85268).