15-year fixed refinance rates

Find and compare the best 15-year fixed refinance rates from lenders in your area.

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Mortgage rate trends (APR)

NerdWallet's mortgage rate insight
4.12%
15-year fixed

The average rate on a 30-year fixed-rate mortgage rose two basis points, the rate for the 15-year went up four basis points and the 5/1 ARM advanced three basis points, according to a NerdWallet survey of daily mortgage rates published Tuesday by national lenders. The average rate on the 30-year fixed is five basis points higher than one week ago. A basis point is one one-hundredth of one percent.

Mortgage rates today (APR)

Loan typeAverage
rate
Change
1 day
Change
1 year
30-year fixed4.56%
0.02%
0.24%
15-year fixed4.12%
0.04%
0.43%
5/1 ARM4.44%
0.03%
0.63%
Data source: NerdWallet Mortgage Rate Index

15-Year Fixed Refinance Rates

Looking for a long-term mortgage with an unchanging rate for the life of the loan? NerdWallet’s mortgage rate tool can help you find competitive 15-year fixed mortgage rates for your refinance. Just enter some information about the type of loan you’re looking for (without dishing on personal details), and you’ll get a customized rate quote in minutes.

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?

The main draws of 15-year fixed-rate loans are their lower interest rates and the fact that they’ll be paid off more quickly. Like any fixed-rate loan, they also offer stability; the monthly payment won’t change no matter what happens to inflation or market interest rates.

But the monthly payment will be much higher than that of a 30-year loan for the same property due to the shorter term, and that will make it harder to qualify for the loan.

Learn more about 15-Year fixed-rate loans: