Compare Today's 15-Year Fixed Refinance Rates
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- About this lenderPros
- 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.
- About this lenderPros
- Offers a program allowing qualifying buyers to make cash offers.
- Makes it easy to see customized mortgage rates.
- Average interest rates are on the low end compared to other lenders, according to the latest federal data.
Cons- Doesn’t offer USDA loans.
- VA loans are not available in every state.
- Doesn't offer home equity loans.
- About this lenderPros
- 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.
- About this lenderPros
- Offers unique loan types, including construction loans, first-time home buyer programs with down payment assistance and loans for self-employed borrowers.
- Real-time rate quotes available while working with a broker.
- Responsive customer service; loan disclosures available within an hour after completing your application.
- Competitive pricing often available, especially for non-traditional borrowers.
Cons- Does not publish interest rates online.
- No mortgage mobile app.
- Loans are not available in every state.
- About this lenderPros
- 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 this lenderPros
- 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 this lenderPros
- Displays customized rates, with fee estimates, without requiring contact information.
- Offers home equity loans and lines of credit.
- Mortgage origination fees are on the low side compared to other lenders, according to the latest federal data.
Cons- Doesn’t offer government-backed FHA or USDA loans, or adjustable-rate mortgages.
- Home renovation loans are not available.
- Mortgage rates are on the high side compared to other lenders, according to the latest federal data.
- About this lenderPros
- Offers a wide variety of purchase and refinance mortgages with an emphasis on helping underserved communities.
- Its home equity line of credit can be used for an owner-occupied or second home.
- Offers a program to enable buyers to make cash offers.
Cons- Mortgage origination fees tend to be on the high end, according to the latest federal data.
- About this lenderPros
- Offers government-backed loans and some harder-to-find products, such as jumbo loans for investment and multifamily properties.
- Home renovation loans are available.
- Offers home equity loans and lines of credit.
Cons- Mortgage rates are not published online.
- Bank branches are limited to seven states.
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)
- 30-year fixed
- 15-year fixed
- 5-year ARM
NerdWallet’s mortgage rate insight
6.901%
30-year fixed-rate“
On Wednesday, April 30, 2025, the average APR on a 30-year fixed-rate mortgage rose 3 basis points to 6.901%. The average APR on a 15-year fixed-rate mortgage remained at 5.923% and the average APR for a 5-year adjustable-rate mortgage (ARM) fell 7 basis points to 7.031%, according to rates provided to NerdWallet by Zillow. The 30-year fixed-rate mortgage is 13 basis points lower than one week ago and 37 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
| Product | Interest Rate | APR |
|---|---|---|
| 30-year fixed-rate | 6.895% | 6.901% |
| 20-year fixed-rate | 6.612% | 6.618% |
| 15-year fixed-rate | 5.914% | 5.923% |
| 10-year fixed-rate | 5.861% | 5.873% |
| 7-year ARM | 7.394% | 7.275% |
| 5-year ARM | 6.647% | 7.031% |
| 3-year ARM | 6.500% | 7.182% |
| 30-year fixed-rate FHA | 6.625% | 7.371% |
| 30-year fixed-rate VA | 6.098% | 6.419% |
Data source: ©Zillow, Inc. 2006 - 2021. Use is subject to the Terms of Use
👉 Did you buy a home in 2023? Refinancing might save you money — mortgage rates are down a percentage point compared to last year’s peak. See mortgage rates this week and try our refinance calculator to see how much you could save.
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. You can use a 15-year mortgage to buy a home or 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 you repay the money in half the time. However, since you can pay off a 15-year mortgage faster, you’ll pay less interest over the life of the loan. This feature makes 15-year loans popular for refinancing 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.
What’s a good interest rate on a 15-year mortgage?
You can find the best rate and save money by comparison shopping and applying with multiple lenders. Each lender offers its own combination of interest rate and fees.
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.
Pros and cons of refinancing to a 15-year mortgage
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. Here’s what to consider.
Pros
- Pay off your mortgage sooner
- Get a lower interest rate (compared to a longer-term loan)
- Pay less interest over time
- Build home equity faster
Cons
- Monthly payments are more expensive
- Risk of foreclosure if you can’t make higher payments
- Less cash flow for investing, saving or home improvements
Is it worth refinancing to a 15-year mortgage?
With lower rates and major interest savings, it’s worth checking out 15-year refinance rates if you can afford a higher monthly mortgage payment. But if you want to pay off your mortgage faster, refinancing isn’t your only option. You can also make extra payments toward the principal each month. With this method, you always have the flexibility to back down to the minimum payment any time you need more cash flow.