15-year fixed mortgage rates
Find and compare the best 15-year fixed mortgage rates from lenders in your area.
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Mortgage rate trends (APR)
NerdWallet's mortgage rate insight
The average rate on a 30-year fixed-rate mortgage rose one basis point, the rate for the 15-year fixed climbed two basis points and the rate for the 5/1 ARM fell two basis points, according to a NerdWallet survey of daily mortgage rates published Friday by national lenders. A homeowner with a rate above 5.18% might benefit from refinancing. The average rate on the 30-year fixed is nine basis points higher than a week ago. A basis point is one one-hundredth of one percent.
Mortgage rates today (APR)
| Loan type | Average rate | Change 1 day | Change 1 year |
|---|---|---|---|
| 30-year fixed | 4.68% | 0.01% | 0.0% |
| 15-year fixed | 4.25% | 0.02% | 0.0% |
| 5/1 ARM | 4.78% | 0.02% | 0.0% |
15-Year Fixed Mortgage Rates
NerdWallet’s mortgage rate tool can help you find competitive, 15-year fixed mortgage rates customized for your needs. Just enter some information about the type of loan you’re looking for and you’ll get a personalized rate quote in minutes, without providing any personal information. From there, you can start the process to get preapproved for your home loan and be on your way to making offers. It’s that easy.
What is a 15-year fixed-rate mortgage?
A 15-year fixed-rate mortgage maintains the same interest rate and monthly payment over the 15-year loan period. The 15 year fixed-rate mortgage allows the borrower to pay off the mortgage faster and typically has a low interest rate. But monthly payments are usually higher than with other mortgages.
When should you consider a 15-year fixed-rate mortgage?
For most buyers, the main draw of a 15-year fixed-rate loan is the low interest rates and paying off your mortgage faster. It also offers stability and peace of mind because your monthly payment won’t change no matter what happens to inflation or market interest rates. However, remember that your monthly payments will be much higher and the loan may be harder to qualify for.
