Some borrowers prefer a 15-year fixed-rate loan because of its shorter payback time and lower interest rate compared to a 30-year mortgage. That’s a one-month in crease of 0.052 percentage points. That’s a one-day in crease of 0.078 percentage points. View Rates for JanuToday’s 15-year fixed-rate mortgage rates Story continues 30 YEAR FIXED CONVENTIONALĬlick below to get started and see your rate today. Average Mortgage Ratesĭata based on US mortgage loans closed on 15 YEAR FIXED CONVENTIONAL
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On the other hand, the interest rate will be higher compared to a shorter-term loan, which means you’ll pay more for this type of loan over its full term. The long payback time means the monthly payments will be relatively low, while the predictable interest rate and steady monthly payments provide long-term stability.
There are a number of advantages to a 30-year fixed-rate mortgage that make it the most popular home loan in America. That’s a one-month increase of 0.165 percentage points. That’s a one-day in crease of 0.089 percentage points. Today’s 30-year fixed-rate mortgage rates Freddie Mac’s weekly rates will generally be lower, since they measure rates offered to borrowers with higher credit scores. Each day’s rates are based on the average rate 8,000 lenders offered to applicants the previous business day. Money’s daily mortgage rates reflect what a borrower with a 20% down payment and a 700 credit score - roughly the national average score - might pay if he or she applied for a home loan right now. The latest rate on a 15-year fixed-rate mortgage is 2.636%. The latest rate on a 30-year fixed-rate mortgage is 3.716%. Competitive rates and comfortable monthly payments can still be found by well-qualified buyers who apply for a new mortgage or to refinance their current loan. Almost all other loan types saw rate increases as well.Īlthough rates have been trending slightly higher, they are still very low compared to previous years. The 30-year refinance rate also increased, moving up to 3.844%. The rate on a 30-year fixed-rate mortgage increased to 3.716%, up 0.089 percentage points from yesterday. If you feel that any of this information has become outdated or is incorrect please contact us immediately.Interest rates are moving higher once again. We do not represent in any way any financial institution named on this page. Please read through our Disclaimer page for additional details.
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