Current 15-year mortgage rates
Rates are effective 05/31/2026 and are subject to change without notice. APR shown is provided by a partner of ConsumerAffairs.
| Product | APR | |
|---|---|---|
| 6.1%0.08% | Get Rates | |
The APR shown of 6.100% is available for a 15-year fixed rate loan in the amount of $200,000 for consumers with loan-to-value of at least 80%. | ||
| 6.094%-0.03% | Get Rates | |
The APR shown of 6.094% is available for a 15-year FHA fixed rate loan in the amount of $200,000 for consumers with loan-to-value of at least 80%. | ||
| 5.768%-0.28% | Get Rates | |
The APR shown of 5.768% is available for a 15-year VA fixed rate loan in the amount of $200,000 for consumers with loan-to-value of at least 80%. | ||
Current refinance rates
| Product | APR | |
|---|---|---|
| 6.008%0.02% | Get Rates | |
The APR shown of 6.008% is available for a 15-year fixed rate loan in the amount of $200,000 for consumers with loan-to-value of at least 80%. | ||
| 6.141%0.0% | Get Rates | |
The APR shown of 6.141% is available for a 15-year FHA fixed rate loan in the amount of $200,000 for consumers with loan-to-value of at least 80%. | ||
| 5.852%0.23% | Get Rates | |
The APR shown of 5.852% is available for a 15-year VA fixed rate loan in the amount of $200,000 for consumers with loan-to-value of at least 80%. | ||
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Mortgage rate trends today
Overall, rates for fixed-rate mortgages have stabilized since the historically low rates of 2021, where the average 15-year mortgage rate hovered close to 2% and the average 30-year mortgage rate hovered between 2% and 3%, according to Freddie Mac.
Since the beginning of 2022, both 15-year and 30-year rates have ticked back up to more typical levels, with current average rates hovering between 5% to 6% for 15-year mortgages and 6% to 7% for 30-year mortgages.
» LEARN: How are mortgage rates determined?
Should you refinance to a 15-year mortgage?
It can make sense to refinance to a 15-year fixed-rate mortgage if interest rates are currently lower than your mortgage rate. By refinancing to a lower rate, you can pay less in borrowing fees over the life of the loan. However, whether it's worth it for you depends on your financial situation and how much you can comfortably afford to pay each month.
How long do you plan to live in your home?
Consider how long you plan to own your current home. It may not be worth refinancing if you have plans to sell soon. Remember that refinancing has fees associated with it.
Can you afford a new monthly payment?
Think about your financial situation and the maximum amount you might be able to pay for housing per month. Generally, it’s recommended that homeowners pay no more than one-third of their income on housing.
While it’s possible your monthly payment could stay around the same or even be reduced, note that shorter loan terms tend to have higher monthly payments.
» MORE: How much house can I afford?
Research options and get quotes
You can explore refinance options without locking yourself into an agreement. Gather at least a few quotes from reputable lenders and think about how the new monthly payment will impact your budget both now and in the future.
When researching options, it’s smart to start with your current mortgage lender, as it may offer incentives (like lower fees) to keep you as a customer, particularly if you have a history of paying on time.
FAQ
How are 15-year mortgage rates determined?
Lenders determine their own mortgage rates. Interest rates typically vary based on borrowers’ financial situations, economic conditions, a home’s location, home prices, supply and demand, and how much you put down for a down payment.
What factors affect current 15-year rates?
Individual factors like a borrower’s financial situation, including their credit score and debt-to-income (DTI) ratio, as well other factors, like the current economic climate, affect 15-year mortgage rates.
Mortgage rates are also indirectly influenced by the Federal Reserve’s benchmark interest rate, more commonly known as the federal funds rate. The federal funds rate is the interest rate banks charge each other for overnight lending.
How often do mortgage rates change?
Mortgage rates change daily. Because of this frequent fluctuation, it’s generally recommended that potential borrowers should not try to time the market or attempt to predict when the best time to buy or refinance a home will be in the future.
Bottom line: Is a 15-year mortgage worth it?
If you’re able to afford a higher monthly payment, a 15-year mortgage could be worth it since you’ll pay less in interest over the life of the loan and build equity faster. However, before choosing a lender and a loan term, think about both your immediate and future financial goals, factoring in other long-term goals like retirement and paying off debt.
Article sources
ConsumerAffairs writers primarily rely on government data, industry experts and original research from other reputable publications to inform their work. Specific sources for this article include:
- Freddie Mac, “Mortgage Rates.” Accessed Nov. 26, 2025.
- Federal Reserve, “Economy at a Glance - Policy Rate.” Accessed Nov. 26, 2025.
