Of all the 48 lower states in America, California’s housing market by far has the highest home prices which makes them unique from other states. But even with that, the state still has similar mortgage and loan rates including refinancing rates from other countries. Home purchase loans, HELOCs, and different types of home loans have the same prices as well.

In California, the refinancing rate of your mortgage depends on several factors. These factors include the amount of home equity, credit score, and years to pay.

California’s refinancing rates, like other places, are pretty much similar to the borrowers home purchase rates with the same financial and credit profile. The only distinction is your home equity automatically becomes your down payment.

Also, homeowners who refinance can often get better rates than their counterparts making a home purchase. It’s because they’ve had several years to build equity and improve their credit score. Their credit score is formed by making regular mortgage payments, qualifying them for lower refinance rates in California and elsewhere.

The home mortgage refinances rates in California can differ from day to day. To see today’s refinancing rates, you can check our table below. If you want a more accurate figure especially for your financial situation, you can contact an expert that offers refinancing services.