6.674% APR 

Compare Today's 15-Year Fixed Refinance Rates

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Applied Filters: Good (720-739), 15-year fixed, Single family home, Primary residence, cash-out
Applied Filters: Good (720-739), 15-year fixed, Single family home, Primary residence, cash-out
License information3 results:
15-year fixed
Northpointe
EXPLORE QUOTE
Northpointe: NMLS#447490
Lowest APR
Lowest monthly payment
Conventional 15-year fixed
Northpointe
4.0
NerdWallet rating
APR
6.796% 
Interest rate
6.75% 
Mo. payment
$3,098 
Insurance $0
Total fees
$1,007 
About this lender
Visit lender's website | Call (866) 356-0885
Pros
  • A full slate of loan offerings.
  • Offers a no-down-payment loan with a shorter repayment term that helps accelerate home equity accumulation.
  • Digital conveniences include a mobile app.
Cons
  • You’ll need to provide contact information or speak to a loan officer for customized mortgage rates.
  • Origination fees are on the high side, according to the latest data.
Central Bank: NMLS#407985Conventional 15-year fixed
Central Bank
4.0
NerdWallet rating
APR
6.899% 
Interest rate
6.875% 
Mo. payment
$3,122 
Insurance $0
Total fees
$521 
About this lender
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.
NBKC: NMLS#409631
Great for first-time home buyers | digital convenience | customer service
Conventional 15-year fixed
NBKC
APR
6.952% 
Interest rate
6.875% 
Mo. payment
$3,122 
Insurance $0
Total fees
$1,677 
Pros
  • Displays customized rates, with fee estimates, without requiring contact information.
  • Efficient customer service over the phone or through online chat.
Cons
  • Physical branches are limited to the Kansas City metro area.

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.


Mortgage rate trends (APR)

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NerdWallet’s mortgage rate insight

6.674%

30-year fixed-rate

On Saturday, June 15, 2024, the average APR on a 30-year fixed-rate mortgage fell 14 basis points to 6.674%. The average APR on a 15-year fixed-rate mortgage remained at 5.874% and the average APR for a 5-year adjustable-rate mortgage (ARM) fell 7 basis points to 7.684%, according to rates provided to NerdWallet by Zillow. The 30-year fixed-rate mortgage is 32 basis points lower than one week ago and 5 basis points lower 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

ProductInterest RateAPR
30-year fixed-rate6.595%6.674%
20-year fixed-rate6.318%6.406%
15-year fixed-rate5.739%5.874%
10-year fixed-rate5.752%5.897%
7-year ARM6.897%7.665%
5-year ARM6.631%7.684%
3-year ARM8.125%8.355%
30-year fixed-rate FHA5.883%6.653%
30-year fixed-rate VA5.884%6.265%

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

A Beginner’s Guide to Refinancing a 15-YR Mortgage
Holden Lewis
By
Last updated on November 13, 2023
Reviewed by
Michelle Blackford
Reviewed by

What is a 15-year fixed-rate mortgage?

A 15-year fixed-rate mortgage is a home loan that has 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. Because borrowers pay off 15-year mortgages faster, they’ll pay less interest over the life of the loan. This feature makes them popular for refinancing out of a 30-year purchase mortgage.

How to find current 15-year refinance 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 any personal information.

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.

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.

Is it worth refinancing to a 15-year mortgage?

It’s worth checking out 15-year refinance rates if you can afford the monthly mortgage payment, which will be higher than that of a 30-year loan.

You will 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. The higher monthly payments could squeeze your household budget, though.

» MORE: Estimate what you could save with our refinance calculator

Learn more about 15-year 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.

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