Compare Today’s Refinance Rates for Royal Oak, Michigan 48068
Pureloan's advanced engine provides real-time analysis of refinance lenders to find the best home refinance rates available in Royal Oak, Michigan 48068.
With a 30-year amortization refinance in Royal Oak and surrounding areas of Oakland county, our calculations show that you can expect to save up to $12,607 over the lifetime of your mortgage, or a monthly savings of $35. Pureloan explores all refinance loan options, including HELOC, short home refinancing, and positive equity refinancing for Royal Oak, Michigan 48068.
Summary of Average Refinances in Royal Oak, Michigan 48068
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Interactive Refinance Rate Projections for Royal Oak, Michigan 48068
Pureloan has developed an interactive chart to monitor the five largest local lenders in Royal Oak, MI 48068, for refinancing and cash-out. The chart features historical rates, which are based on completed refinancings, and projections, which are based on proprietary modeling.
Historical Refinance Rates in Royal Oak, Michigan 48068 from 2024 - 2016
The following historical data provides insights into refinancing trends in Royal Oak, Michigan and the surrounding Oakland county, based on factors such as loan type, credit score, LTV, and other parameters. This data is derived from actual closed home refinancings.
2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
---|---|---|---|---|---|---|---|---|---|
% 30 year fixed refinance | 82.61% | 58.01% | 56.80% | 55.14% | 62.60% | 54.95% | 52.28% | 52.83% | 54.68% |
avg refi rate | 6.46% | 3.61% | 3.01% | 3.29% | 4.17% | 4.58% | 4.14% | 3.96% | 4.14% |
% 15 year fixed refinance | 13.04% | 26.19% | 26.83% | 26.58% | 21.76% | 32.42% | 34.70% | 33.88% | 31.87% |
avg refi rate | 5.78% | 2.81% | 2.47% | 2.80% | 3.64% | 3.91% | 3.39% | 3.20% | 3.38% |
Avg credit score | 735.75 | 740.32 | 752.34 | 757.61 | 746.87 | 740.69 | 746.29 | 751.67 | 754.48 |
Avg LTV (loan to value) | 62.64% | 61.38% | 65.49% | 69.51% | 73.18% | 67.93% | 70.23% | 71.59% | 72.41% |
Avg DTI (debt to income) | 37.35 | 33.47 | 32.28 | 31.96 | 33.16 | 34.03 | 33.28 | 32.28 | 31.69 |
Avg refinance insurance % | 2.29% | 1.30% | 2.21% | 3.64% | 5.58% | 3.00% | 3.69% | 4.13% | 4.54% |
Best Refinance Brokers around Royal Oak, Michigan 48068
If you are considering refinancing your mortgage or obtaining a cash-out refinance in Royal Oak, Michigan 48068, we have compiled a list of top refinance brokers to assist you in the process.
Randy Hassan
Loan Officer
26236 Woodward Ave
Royal Oak, MI 48068
(248) 548-1813
rhassan@johnadamsmortgage.com
Kay Davis
Branch Manager/Mortgage Specialist
300 S Riverside Suite 105
St. Clair, FL 48068
(810) 201-5804
kdavis@unionhomemortgage.com
Bradley Silvius
Mortgage Loan Consultant
140012, 25800 Northwestern Highway, Ste 110
Southfield, MI 48068
(734) 417-3650
brad@a2mc.com
Christina Slade
Mortgage Loan Consultant
140012, 25800 Northwestern Highway, Ste 110
Southfield, MI 48068
(734) 476-9200
christina@a2mc.com
Susan Heren
Mortgage Loan Consultant
140012, 25800 Northwestern Highway, Ste 110
Southfield, MI 48068
(734) 260-4299
susan@a2mc.com
Address
26236 Woodward Ave
Royal Oak, MI
Contact
(248) 548-1813
Fax (301) 639-0804
rhassan@johnadamsmortgage.com
Address
300 S Riverside Suite 105
St. Clair, FL
Contact
(810) 201-5804
Fax (301) 639-0804
kdavis@unionhomemortgage.com
Address
140012, 25800 Northwestern Highway, Ste 110
Southfield, MI
Contact
(734) 417-3650
Fax (301) 639-0804
brad@a2mc.com