Compare Today’s Refinance Rates for Scranton, Pennsylvania 18522

Pureloan's search engine provides real-time analysis of refinance lenders to find the best home refinance rates available in Scranton, Pennsylvania 18522.

Our analysis indicates that for 30-year amortization refinancing, you can expect to save up to $17,876 over the lifetime of your mortgage, which translates to a monthly savings of $50 in Scranton and other areas of Lackawanna county. We analyze all refinance loan options, including HELOC, short home refinancing, and positive equity refinancing, to provide you with the most suitable options for your financial situation.

30 Year Fixed Mortgage Rates Customized for April 21, 2021

Today's 30 Year Fixed Mortgage Rates

41.427353 -75.646454 7130

Summary of Average Refinances in Scranton, Pennsylvania 18522

Rate

APR

Expected Savings

Monthly Payment

Total Closing Costs

Interactive Refinance Rate Projections for Scranton, Pennsylvania 18522

Source: Fannie Mae and Freddie Mac


Pureloan has developed an interactive chart to monitor the five largest local lenders in Scranton, PA 18522, for refinancing and cash-out. The chart features historical rates, which are based on completed refinancings, and projections, which are based on proprietary modeling.

Local Refinance Rates in Scranton, Pennsylvania 18522

Scranton is a city in the Commonwealth of Pennsylvania, United States, and the county seat of Lackawanna County. With a population of 76,328 as of the 2020 U.S. census, Scranton is the largest city in Northeastern Pennsylvania and the Scranton–Wilkes-Barre–Hazleton Metropolitan Statistical Area, which has a population of 562,037 as of 2020. Read more

Scranton is a city in the Commonwealth of Pennsylvania, United States, and the county seat of Lackawanna County. With a population of 76,328 as of the 2020 U.S. census, Scranton is the largest city in Northeastern Pennsylvania and the Scranton–Wilkes-Barre–Hazleton Metropolitan Statistical Area, which has a population of 562,037 as of 2020. It is the seventh-largest city or borough in Pennsylvania. The contiguous network of five cities and more than 40 boroughs all built in a straight line in Northeastern Pennsylvania's urban area act culturally and logistically as one continuous city, so while the city of Scranton itself is a mid-sized city, the larger Scranton/Wilkes-Barre Area contains half a million residents in over 200 square miles. Scranton/Wilkes-Barre is the cultural and economic center of a region called Northeastern Pennsylvania, which is home to over 1.3 million residents.Scranton hosts a federal court building for the United States District Court for the Middle District of Pennsylvania. The city is conventionally divided into nine districts: North Scranton, Southside, Westside, Eastside/Hill Section, Central City, Minooka, West Mountain, East Mountain, and Green Ridge, though these areas do not have legal status. The city is the geographic and cultural center of the Lackawanna River valley and Northeastern Pennsylvania, as well as the largest of the former anthracite coal mining communities in a contiguous quilt-work that also includes Wilkes-Barre, Nanticoke, Pittston, and Carbondale. Scranton was incorporated on February 14, 1856, as a borough in Luzerne County and as a city on April 23, 1866. It became a major industrial city and a center of mining and railroads; it attracted thousands of new immigrants. It was the site of the Scranton general strike in 1877.

People in northern Luzerne County sought a new county in 1839, but the Wilkes-Barre area resisted losing its assets. Lackawanna County did not gain independent status until 1878. Under legislation allowing the issue to be voted by residents of the proposed territory, voters favored the new county by a proportion of 6 to 1, with Scranton residents providing the major support. The city was designated as the county seat when Lackawanna County was established in 1878, and a judicial district was authorized in July 1879.

The city's nickname "Electric City" began when electric lights were introduced in 1880 at the Dickson Manufacturing Company. Six years later, the United States' first streetcars powered only by electricity began operating in the city. Rev. David Spencer, a local Baptist minister, later proclaimed Scranton as the "Electric City".The city's industrial production and population peaked in the 1930s and 1940s, fueled by demand for coal and textiles, especially during World War II. But while the national economy boomed after the war, demand for the region's coal declined as other forms of energy became more popular, which also harmed the rail industry. Foreseeing the decline, city leaders formulated the Scranton Plan in 1945 to diversify the local economy beyond coal, but the city's economy continued to decline. The Knox Mine disaster of 1959 essentially ended coal mining in the region. Scranton's population dropped from its peak of 143,433 in the 1930 census to 76,089 in the 2010 census. The city now has large health care, academic, and manufacturing sectors.

Scranton is located 77 miles north of Allentown, 120 miles north of Philadelphia, and 120 miles northwest of New York City. Read less

Historical Refinance Rates in Scranton, Pennsylvania 18522 from 2024 - 2016

The following historical data provides insights into refinancing trends in Scranton, Pennsylvania and the surrounding Lackawanna 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 90.00% 47.76% 49.36% 47.28% 55.19% 57.29% 42.74% 50.00% 45.37%
avg refi rate 6.53% 3.52% 2.99% 3.28% 4.17% 4.70% 4.10% 3.90% 4.11%
% 15 year fixed refinance 30.35% 28.06% 29.26% 27.92% 25.63% 36.31% 32.07% 35.42%
avg refi rate 2.76% 2.45% 2.77% 3.48% 3.82% 3.31% 3.13% 3.31%
Avg credit score 725.05 758.27 756.85 759.72 757.03 743.06 753.42 760.14 757.56
Avg LTV (loan to value) 59.05% 62.35% 67.72% 72.05% 72.62% 71.96% 74.11% 74.34% 73.33%
Avg DTI (debt to income) 42.40 33.58 32.14 32.08 33.76 35.35 33.65 33.06 32.63
Avg refinance insurance % 1.20% 0.95% 1.81% 4.27% 5.71% 4.89% 6.08% 5.88% 6.05%

Source: Financial Report of the US Government

Best Refinance Brokers around Scranton, Pennsylvania 18522

If you are considering refinancing your mortgage or obtaining a cash-out refinance in Scranton, Pennsylvania 18522, we have compiled a list of top refinance brokers to assist you in the process.

Name
Address
Contact

Nolan Ayres

Loan Officer Assistant

1700 N Keyser Ave

Scranton, PA 18522

(800) 239-8513

nolan.ayres@communitybankna.com

Lisa Browning

Loan Officer Assistant

1700 N Keyser Ave

Scranton, PA 18522

(800) 239-8513

lisa.browning@communitybankna.com

David Lencicki

Loan Officer Assistant

500 Davis Street

Scranton, PA 18522

(800) 239-8513

david.lencicki@communitybankna.com

Tyler Dayoub

Loan Officer

201 Penn Ave

Scranton, PA 18522

(570) 614-1989

tyler.dayoub@pncmortgage.com

Tony Caruso

Loan Officer

201 Penn Ave

Scranton, PA 18522

(570) 614-1989

tony.caruso@pncmortgage.com

Address

1700 N Keyser Ave

Scranton, PA

Contact

(800) 239-8513

Fax (301) 639-0804

nolan.ayres@communitybankna.com

Address

1700 N Keyser Ave

Scranton, PA

Contact

(800) 239-8513

Fax (301) 639-0804

lisa.browning@communitybankna.com

Address

500 Davis Street

Scranton, PA

Contact

(800) 239-8513

Fax (301) 639-0804

david.lencicki@communitybankna.com

Refinancing News for Scranton, Pennsylvania 18522