15-Year Mortgage Rates: Compare Today’s Rates

Compare Today's 15-Year Fixed Mortgage Rates

Some or all of the mortgage lenders featured on our site are advertising partners of NerdWallet, but this does not influence our evaluations, lender star ratings or the order in which lenders are listed on the page. Our opinions are our own. Here is a list of our partners.

Applied Filters: Good (720-739), 15-year fixed, Single family home, Primary residence.

License information4 results:

Sort by

15-year fixed

EXPLORE QUOTE

on Simplist

Simplist: NMLS#1764611

Lowest APR

Lowest monthly payment

Conventional 15-year fixed

4.5

NerdWallet rating

APR

6.568%

Interest rate

6.5%

Mo. payment

$2,091

Insurance $0

Total fees

$1,023

About this lender

Visit lender's website

Pros

Loan origination process can be completed online.
Offers government-backed FHA and VA loans.
Offers module that compares mortgage rates among other lenders.

Cons

Offers loans in many states and Washington, D.C., but not nationwide.
Does not offer home equity loans or lines of credit.

EXPLORE QUOTE

on Tomo

Tomo: NMLS#2059741

Great for Mortgage rate transparency

Conventional 15-year fixed

4.0

NerdWallet rating

APR

6.637%

Interest rate

6.5%

Mo. payment

$2,091

Insurance $0

Total fees

$2,057

About this lender

Visit lender's website

Pros

Special program offers a pricing break for first first-time home buyers.
Offers financing options for self-employed borrowers and those without Social Security numbers.
Interactive mortgage rates tool takes credit score and location into account.

Cons

Purchase loans are not available in all states.
Doesn’t offer home equity loans or lines of credit.
No refinancing options are available.

EXPLORE QUOTE

NBKC: NMLS#409631

Great for first-time home buyers | digital convenience | customer service

Conventional 15-year fixed

4.5

NerdWallet rating

APR

6.972%

Interest rate

6.875%

Mo. payment

$2,141

Insurance $0

Total fees

$1,446

About this lender

Visit lender's website | Call (888) 871-2381

Pros

Offers government-backed loans and some harder-to-find products, such as construction loans and specialty mortgages for pilots.
Offers low rates and fees compared with other lenders, according to the latest federal data.
Displays customized rates, with fee estimates, without requiring contact information.

Cons

HELOCs and construction-to-permanent loans are available only in the Kansas City metro area.

EXPLORE QUOTE

Central Bank: NMLS#407985Conventional 15-year fixed

4.0

NerdWallet rating

APR

7.298%

Interest rate

7.25%

Mo. payment

$2,191

Insurance $0

Total fees

$705

About this lender

Visit lender's website

Pros

Among the best when it comes to online convenience.
Offers a full selection of mortgage types and products, including jumbo, home equity, and government loans.
Claims to offer preapproval within 24 hours of loan application.

Cons

You'll have to complete a loan application to see mortgage interest rates.
Bank branch locations limited to the Midwest.
Does not offer home equity lines of credit.

About These Rates: The lenders whose rates appear on this table are NerdWallet’s advertising partners. NerdWallet strives to keep its information accurate and up to date. This information may be different than what you see when you visit a lender’s site. The terms advertised here are not offers and do not bind any lender. The rates shown here are retrieved via the Mortech rate engine and are subject to change. These rates do not include taxes, fees, and insurance. Your actual rate and loan terms will be determined by the partner’s assessment of your creditworthiness and other factors. Any potential savings figures are estimates based on the information provided by you and our advertising partners.

Trends and Insights

Mortgage rate trends (APR)

NerdWallet’s mortgage rate insight

6.405%

15-year fixed-rate

“

On Thursday, April 25, 2024, the average APR on a 30-year fixed-rate mortgage remained at 7.204%. The average APR on a 15-year fixed-rate mortgage rose 5 basis points to 6.405% and the average APR for a 5-year adjustable-rate mortgage (ARM) rose 2 basis points to 7.751%, according to rates provided to NerdWallet by Zillow. The 30-year fixed-rate mortgage is 3 basis points lower than one week ago and 70 basis points higher than one year ago.

A basis point is one one-hundredth of one percent. Rates are expressed as annual percentage rate, or APR.

Current mortgage and refinance rates

Accurate as of 04/25/2024

Product	Interest Rate	APR
30-year fixed-rate	7.132%	7.204%
20-year fixed-rate	6.965%	7.064%
15-year fixed-rate	6.280%	6.405%
10-year fixed-rate	6.156%	6.343%
7-year ARM	6.904%	7.678%
5-year ARM	6.736%	7.751%
3-year ARM	8.125%	8.355%
30-year fixed-rate FHA	6.222%	7.014%
30-year fixed-rate VA	6.422%	6.699%

Data source: ©Zillow, Inc. 2006 - 2021. Use is subject to the Terms of Use

Best Mortgage Lenders

Lender	NerdWallet Rating	Min. credit score	Min. down payment	Learn more
NBKC: NMLS#409631 Learn more at NBKC at NBKC	5.0 /5 FHA loans Best for FHA and VA loans	620	3.5%	Learn more at NBKC at NBKC
Guaranteed Rate: NMLS#2611 Learn more at Guaranteed Rate at Guaranteed Rate	5.0 /5 Home loans overall Best for first-time home buyers, jumbo loans and HELOCs	620	3%	Learn more at Guaranteed Rate at Guaranteed Rate
Alliant: NMLS#197185 Read review	5.0 /5 Jumbo loans Best for jumbo loans	620	5%	Read review
Andrews Federal Credit Union: NMLS#410421 Read review	5.0 /5 Home loans overall Best for first-time home buyers	620	3%	Read review
PNC: NMLS#446303 Read review	5.0 /5 Home loans overall Best for first-time buyers, FHA and jumbo loans, HELOCs	620	3%	Read review

A Beginner’s Guide to 15-Year Mortgages

Last updated on April 16, 2024

Reviewed by

Edited by

✅ Fact checked

Reviewed by

Edited by

✅ Fact checked

What is a 15-year fixed-rate mortgage?

A 15-year fixed-rate mortgage is a home loan that keeps the same interest rate and monthly principal-and-interest payment over the 15-year loan period. 15-year mortgages can be used to buy a home or to refinance an existing home loan.

15-year mortgages usually have lower interest rates than 30-year mortgages, but the monthly payments tend to be higher because borrowers repay the money in half the time. However, because borrowers pay off 15-year mortgages faster, they’ll pay less interest over the life of the loan.

The 15-year mortgage is a popular option among homeowners who refinance out of their 30-year purchase mortgages.

» MORE: Pros and cons of a 15-year fixed mortgage

How to find current 15-year mortgage rates

NerdWallet’s mortgage rate tool can help you find competitive 15-year fixed mortgage rates. In the filters above, enter a few details about the loan you’re looking for, and you can see rate quotes without providing personal information.

Mortgage rates vary daily and are influenced by the economy’s overall rate of growth, the inflation rate and the health of the job market. Unpredictable events can affect all of those factors. NerdWallet’s mortgage interest rates forecast gives a snapshot of current trends, along with a forecast for the month.

15-year mortgage rates vary by lender

Each lender offers its own combination of interest rate and fees, so you can save money by comparison shopping and applying with multiple lenders.

After you submit complete mortgage applications, each lender will provide you with a Loan Estimate form. This will let you compare interest rates, origination fees and closing costs and give you confidence that you’re getting the right loan for your situation.

Is it worth refinancing to a 15-year mortgage?

You build home equity faster with a 15-year mortgage than with a 30-year mortgage, and you’ll pay less interest over the life of the loan with a 15-year mortgage. But the monthly mortgage payment will be higher, potentially squeezing your household budget.

In short, a 15-year mortgage makes you pay more every month, but it can save you money in the long run. It's a trade-off that requires you to make a judgment call.

15-year fixed mortgage: Pros and cons

Pros

Average interest rates are lower for 15-year mortgages than for home loans with longer terms.
You save money with a 15-year mortgage because you pay interest for fewer years.
You build equity faster with a 15-year mortgage.

Cons

Monthly payments for a 15-year mortgage are higher than for a mortgage with a longer term.
The higher monthly payments on a 15-year mortgage will mean you’ll qualify for a less-expensive home than if you stretched out the loan to 20 or 30 years.
Because of the higher monthly payment, you’ll have less money available for other investments, such as retirement accounts.

Learn more about fixed-rate loans:

About the author: Holden is NerdWallet's authority on mortgages and real estate. He has reported on mortgages since 2001, winning multiple awards.

Article sources

NerdWallet writers are subject matter authorities who use primary, trustworthy sources to inform their work, including peer-reviewed studies, government websites, academic research and interviews with industry experts. All content is fact-checked for accuracy, timeliness and relevance. You can learn more about NerdWallet's high standards for journalism by reading our editorial guidelines.

Freddie Mac. Refinance Trends in the First Half of 2021. Accessed Apr 16, 2024.