Mortgage Refinance Rates in Washington (2026)
With Washington's median value near $610,000, a homeowner refinancing a typical $415,000 balance from about 7.50% to 6.25% saves roughly $347/month — breaking even on ~$10,375 of costs near month 30.
Most Washington owners have built real equity. A cash-out refinance can tap up to 80% of value, and a rate-and-term refinance simply lowers the payment. 3 Washington counties are high-cost, raising the conforming ceiling there.
Refinance snapshot by Washington county
| County | Est. Value | 2026 Conforming Limit | Tier |
|---|---|---|---|
| King County | $860,000 | $1,037,800 | High-cost |
| Pierce County | $540,000 | $977,500 | High-cost |
| Snohomish County | $720,000 | $1,037,800 | High-cost |
| Spokane County | $450,000 | $806,500 | Baseline |
| Clark County | $560,000 | $806,500 | Baseline |
| Thurston County | $520,000 | $806,500 | Baseline |
| Kitsap County | $560,000 | $806,500 | Baseline |
| Yakima County | $330,000 | $806,500 | Baseline |
| Skagit County | $610,000 | $806,500 | Baseline |
| Cowlitz County | $610,000 | $806,500 | Baseline |
| Grant County | $610,000 | $806,500 | Baseline |
| Franklin County | $610,000 | $806,500 | Baseline |
| Island County | $610,000 | $806,500 | Baseline |
| Lewis County | $610,000 | $806,500 | Baseline |
| Chelan County | $610,000 | $806,500 | Baseline |
| Clallam County | $610,000 | $806,500 | Baseline |
| Grays Harbor County | $610,000 | $806,500 | Baseline |
| Mason County | $610,000 | $806,500 | Baseline |
| Walla Walla County | $610,000 | $806,500 | Baseline |
| Whitman County | $610,000 | $806,500 | Baseline |
| Whatcom County | $610,000 | $806,500 | Baseline |
| Benton County | $430,000 | $806,500 | Baseline |
Should you refinance in Washington?
It comes down to your break-even. Take your closing costs (often 2-5% of the balance) and divide by your monthly savings — if you will stay in the home past that month count, refinancing usually wins. Cash-out makes sense when the rate and use of funds beat your other borrowing options.
Catch the Next Refinance Rate Drop
Refinance rates move daily and the right dip can save hundreds a month. We will tell you the moment it makes sense.
Frequently Asked Questions
- How much can refinancing save in Washington?
- On a $415,000 balance near the Washington median, dropping from ~7.50% to 6.25% saves about $347/month. Your figure depends on your current rate and balance.
- What is the conforming loan limit in Washington for 2026?
- Most Washington counties use the $806,500 baseline; high-cost counties go up to $1,209,750. Above that, refinances are jumbo loans.