MoneyGeek found that the current average refinance rates in Missouri are 4.43% for a 15-year FRM and 5.11% for a 30-year FRM. This indicates that the state’s current refinance rates for a 15-year FRM and 30-year FRM are less than the current national average mortgage rates of 4.45% and 5.30%, respectively. However, the state’s current 5/1 ARM of 4.62% is greater than the current national average rate of 4.19%.
A "good” rate is subjective because it’s based on several factors like loan term and loan size, as well as your credit score, income and existing debt. To ensure that you’re getting the best rate for your unique situation, you should compare rates from different lenders.
During your research, be mindful that mortgage rates are subject to daily fluctuations — the quote you receive today may be significantly different from the one you get next week.
