Mortgage Refinancing in Rhode Island
Real refinance data for Rhode Island from federal sources, updated annually. See how your state compares to national averages.
Refinance Originations
2,691
2023 HMDA data
Avg Loan Amount
$283,346
National: $410,429
Denial Rate
28.39%
▼ Above national avg
Median Home Value
$368,800
U.S. Census Bureau
Source: HMDA 2023 via CFPB, U.S. Census Bureau ACS
Calculate your refinance savingsRefinance Trends in Rhode Island
Originations by Year
Refinance originations in Rhode Island by year. Source: HMDA via CFPB.
Loan Type Breakdown
Includes all refinance applications (originated, denied, and other outcomes). Source: HMDA via CFPB.
Home Price Trends in Rhode Island
Source: FHFA House Price Index
Top Lenders in Rhode Island
| # | Lender | HMDA Records | Avg Loan |
|---|---|---|---|
| 1 | Citizens Bank National Association | 7,548 | - |
| 2 | Citizens Bank National Association | 5,876 | - |
| 3 | Navigant Credit Union | 3,306 | - |
| 4 | Pawtucket | 2,863 | - |
| 5 | Navigant Credit Union | 2,665 | - |
| 6 | Coastal1 Credit Union | 1,866 | - |
| 7 | The Washington Trust Company Of Westerly | 1,808 | - |
| 8 | Rocket Mortgage LLC | 1,611 | - |
| 9 | Bank Of America National Association | 1,539 | - |
| 10 | Bank Of America National Association | 1,424 | - |
Ranked by total HMDA filings in the state (2023). Source: HMDA via CFPB.
Compare all lenders →How Rhode Island Compares
| Metric | Rhode Island | National Avg |
|---|---|---|
| Refinance Originations | 2,691 | 435,709 |
| Avg Loan Amount | $283,346 | $410,429 |
| Denial Rate | 28.39% | 27.87% |
Green indicates the state performs better than the national average. Red indicates worse. Source: HMDA 2023, U.S. Census Bureau.
Current Mortgage Rates
30-Year Fixed
6.38%
▲ 6.22% prev
15-Year Fixed
5.75%
▲ 5.54% prev
5/1 ARM
6.06%
▲ 5.95% prev
National average rates updated daily from FRED (Federal Reserve Bank of St. Louis). Your rate depends on your credit score, loan amount, and lender.
Get personalized rates →Frequently Asked Questions
How many people refinanced in Rhode Island in 2023?
In 2023, there were 2,691 refinance originations in Rhode Island, according to HMDA data reported to the CFPB.
What is the average refinance loan amount in Rhode Island?
The average refinance loan amount in Rhode Island was $283,346 in 2023. This reflects originated loans reported through HMDA.
What is the refinance denial rate in Rhode Island?
The refinance denial rate in Rhode Island was 28.39% in 2023. This is calculated from originated and denied applications reported to the CFPB.
What are the top refinance lenders in Rhode Island?
The most active lenders in Rhode Island by HMDA filing volume include Citizens Bank National Association, Citizens Bank National Association, Navigant Credit Union. See the full list above for details.
Is it a good time to refinance in Rhode Island?
Whether refinancing makes sense depends on your current rate, loan balance, and how long you plan to stay in your home. Use our refinance calculator and break-even calculator to estimate your potential savings based on current national rates.
Want a deeper analysis?
Read our full editorial guide on refinancing in Rhode Island, including tips, regulations, and state programs.
Read the Rhode Island Refinance GuideData sourced from HMDA (Home Mortgage Disclosure Act) via the CFPB and FRED (Federal Reserve Bank of St. Louis). Demographics from the U.S. Census Bureau American Community Survey. This page is for educational purposes only and does not constitute financial advice. Consult a licensed mortgage professional for personalized guidance.