What is a 15-year fixed-rate mortgage? A loan used for purchasing or refinancing a home with an interest rate that never changes and a repayment term of fifteen years. Why choose a 15-year fixed-rate mortgage (FRM)? Like its 30-year sibling, your interest rate (and the mortgage’s principal and interest payment) will never change.

Fifteen Year Fixed Mortgage Rates Today’s low interest rate for a 15-year fixed is 3.5% (3.941% APR), and the interest rate for a 30-year fixed is 3.99% (4.243% apr). Why You Should Choose Quicken Loans You’ll get a completely online application process with less paperwork, and you can track the status of your mortgage application.Home Mortgage Rate Chart History (See chart below; click to enlarge. “With incomes up and current mortgage rates about 0.8 percentage points below what they were one year ago, home sales should have a better sales pace in the.

Mortgage rates valid as of 29 aug 2019 09:31 am EDT and assume borrower has excellent credit (including a credit score of 740 or higher). Estimated monthly payments shown include principal, interest and (if applicable) any required mortgage insurance. ARM interest rates and payments are subject to increase after the initial fixed-rate period (5 years for a 5/1 ARM, 7 years for a 7/1 ARM and 10.

Second Mortgages Interest Rates A home equity loan is a second mortgage that allows you to borrow against the value of your home. FAQs. If you have more questions or are still unsure about home equity loans, here’s a list of.

Since jumbos provide more risk to the bank, they often come with higher interest rates. 15-year jumbos typically come with an interest rate of 0.5% to 1% above a traditional 15 year loan. What Affects Interest Rates. Like all mortgage products, the best time to get a 15-year is when interest rates and fees are low.

The average for the month 3.10%. The 15 Year Mortgage Rate forecast at the end of the month 3.09%. Mortgage Interest Rate forecast for October 2019. Maximum interest rate 3.28%, minimum 3.08%. The average for the month 3.16%. The 15 Year Mortgage Rate forecast at the end of the month 3.18%. 15 Year Mortgage Rate forecast for November 2019.

When interest rates rise consumers tend to shift more toward using adjustable-rate mortgages to purchase homes. Advantages of a 15-Year Fixed-Rate Home Loan. The big advantage of a 30-year home loan over a 15-year loan is a lower monthly payment.

5-Year Fixed-Rate Historic Tables HTML / excel weekly pmms survey opinions, estimates, forecasts and other views contained in this document are those of Freddie Mac’s Economic & Housing Research group, do not necessarily represent the views of Freddie Mac or its management, should not be construed as indicating Freddie Mac’s business prospects.

As rates fall, the demand for housing generally rises and so do home prices. How 15-Year Fixed Mortgage Rates Stack Up Against Other Mortgage Rates . Mortgage rates tend to be lower with 15-year fixed mortgages than 30-year fixed mortgage rates because lenders take into consideration that you’ll pay back the loan in a shorter amount of time.