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The east coast of Florida isn't just more crowded than the west coast.
It's also the place to be when it comes to saving more money when refinancing a mortgage, according to a new study from data firm SmartAsset. The top three counties statewide where people save the most money in refinancing are all on the east coast: Miami-Dade, Broward and Palm Beach.
SmartAsset looked at data on pre- and post-refinance interest rates, and the total balance of refinanced mortgages in every county nationwide. Then the firm applied the regional average pre-refinance interest rate and the regional average post-refinance rate to the total balance of refinanced loans in every county. The difference between those two figures — total interest payments with and without refinancing — yielded the total refinance saving by county. SmartAsset also divided the total savings by the
number of loans per county to produce the average savings per refinance.
The Gulf Coast isn't totally shut out of the top tier in Florida. Hillsborough, Pinellas, Lee and Collier counties all made the top 10.
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