Connecticut Mortgage Refinance

The 610,644 people residing in Connecticut typically pay an average of $238,600 for their home; however some homeowners can command a higher price in certain cities. For example, the average sale price for homes in Stamford (06468) is $404,100 whereas the average home price in New Haven (06511) is approximately $207,000. Home values throughout the state are $254,100. Values in New London (06249) are slightly lower at $221,200 and higher in Stamford at $388,200. However, home values in Greenwich (06830) can run from $1,956,991 to $2,297,337 and even higher in Old Greenwich (06870) at $2,217,511 to $2,603,165. Connecticut mortgage refinance rates on a 30 year fixed product are somewhat lower than the national average. Residents can expect rates between 4.74% APR to 5.33% APR. The fixed 15 year product garners a rate of 4.20% APR to 4.81% APR. For an adjustable rate mortgage (ARM) rates for a 7/1 ARM range from 3.47% APR to 4.18% APR. Refinancing your Connecticut home has additional advantages other than lowering your monthly mortgage payment. Connecticut homeowners also receive tax benefits because residents can deduct mortgage interest, points and property taxes. When it comes to identifying the right lender, Connecticut residents should review and compare rates on similar products and amounts. Consider points and fees when making this decision.