Will Oregon Homeowners Continue to Refinance in 2026?

Refinancing in Oregon is a great way for homeowners to take advantage of lower mortgage rates, especially if they originally locked in their loan with a much higher mortgage rate. Refinancing can save thousands of dollars, and in this article, we’ll examine whether or not Oregon homeowners will continue refinancing in 2026.

Refinancing Your Oregon Home in 2026

Both home prices across the state of Oregon and mortgage rates have dipped over the past year. And while home price trends are expected to reverse course in 2026, mortgage interest rates are expected to continue dipping until year-end and beyond.

Because of these factors, should homeowners in Oregon refinance their homes?

Home Prices Up 

Let’s start with a look at home prices in the state. According to the latest data from Zillow, the median home value for Oregon is hovering around $487,843 as of January 2026. The median home price decreased by 0.8% over the last 12 months, though is expected to inch up over the next few months.

That said, when you look at prices over the past 5 years, Oregon has seen an average price increase of nearly 40%.

As a result of an appreciation in value over the years, many homes across the state of Oregon are worth more now than they were when their owners first purchased them. And this has created favorable refinancing conditions for many homeowners across Oregon.

Mortgage Rates Still Relatively High, But Are on the Decline

Meanwhile, mortgage rates are rather high but are coming down. According to the weekly industry survey conducted by Freddie Mac, the average rate for a 30-year fixed home loan was 6.06% during the third week of January 2026. That’s nearly 1% lower than the same week last year.

The Mortgage Bankers Association (MBA) expects rates to decrease in 2026, making mortgages potentially more affordable for buyers in the coming months. More specifically, experts suggest that rates could dip below 6% by year-end.

Combining rising home prices with lower mortgage rates creates a favorable refinancing situation. This is why a lot of homeowners in Oregon might be able to refinance their mortgage loans in 2026, saving money over the long term.

However, it’s important to consider the rate that you can get today versus the rate you are currently locked in with. You’ll need to crunch the numbers to make sure a refinance makes sense.

Live Oregon Mortgage Rates Jan, 31, Sat, 2026

Can You Benefit From a Refinance?

Does it make sense to refinance your home in Oregon during 2026? How much money might you save by refinancing into a lower mortgage rate?

To answer these questions, you must determine your “break-even” point. If you’re refinancing in order to shrink your monthly payments and save money over the long term, you’ll want to know when you will break even. This is the point where the money you save (by lowering your payments) begins to exceed your refinance closing costs. And we can help you determine this.

Let’s do the math: Our financing experts can review your current mortgage situation, including your interest rate and equity level, to determine if a refinance will work to your advantage. Please contact us with any questions you have or to receive a rate quote.

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Have Questions About Refinancing in Oregon?

Are you a homeowner in Oregon looking to refinance? Or are you looking to buy a new home and require a mortgage? Sammamish Mortgage can help. We are a local, family-owned company based in Bellevue, WA. We have been offering a variety of mortgage programs to borrowers across Oregon, Washington, Idaho, Colorado, and California since 1992. These include our Diamond Homebuyer Program, Cash Buyer Program, and Bridge Loans.  Please contact us if you have mortgage-related questions or to get pre-approved for a mortgage.