15-Year Mortgage Rates: Compare Today’s Rates & Find Best Offers
Discover current 15-year mortgage rates and compare personalized offers from top lenders.
Compare Current 15-Year Mortgage Rates
As of Saturday, November 29, 2025, the national average 15-year fixed mortgage APR stands at 5.69%, with the average 15-year fixed refinance APR at 6.13%. These rates reflect the latest survey data from Bankrate’s comprehensive analysis of the nation’s largest mortgage lenders. Understanding current mortgage rates is essential for homebuyers and refinancers looking to make informed financial decisions about their property investments.
The mortgage market continues to show stability, with rates moderately adjusting week to week. Compared to last week’s rates of 5.64% for 15-year mortgages and 6.09% for refinances, we’ve seen a slight decline, indicating potential opportunities for borrowers seeking favorable lending conditions. This downward trend suggests that the mortgage landscape may continue to evolve into the new year.
Today’s National 15-Year Mortgage Rate Trends
The national average 15-year fixed mortgage interest rate is currently 5.60%, down from last week’s rate of 5.64%. Similarly, the national average 15-year fixed refinance interest rate sits at 6.03%, down from the previous week’s 6.09%. These improvements represent meaningful shifts in the lending environment that could translate to significant savings for qualified borrowers.
Typically, 15-year mortgage rates today remain lower than rates on the more popular 30-year loans. This differential is a consistent feature of the mortgage market, where shorter-term loans generally carry lower interest rates. Across the board, mortgage costs have stabilized after previous volatility, though rates could potentially decrease further into the new year as economic conditions continue to evolve.
Top Offers vs. National Average Rates
For borrowers looking to optimize their mortgage deals, it’s important to understand the gap between national averages and the best available offers. Top offers on Bankrate for 15-year fixed mortgage rates are currently averaging 0.8 percent lower than the national average. On a typical $340,000 loan, this differential could translate into considerable annual savings that accumulate substantially over the life of the mortgage.
This significant rate difference underscores the importance of shopping around with multiple lenders. If you need a loan now for a home purchase or refinance, comparing offers from at least three different mortgage lenders is essential. You might find considerable differences in rates, varying fees (often reflected in the APR), and diverse customer service experiences among different financial institutions.
15-Year Mortgage Rates Compared to Other Loan Types
One major advantage of a 15-year mortgage is its lower interest rate relative to longer-term products. Compared to a 30-year loan, a 15-year mortgage typically carries an interest rate that’s approximately three-quarters of a percentage point lower. In fact, 15-year loans are among the cheapest mortgage products you’ll find in the current market.
However, this advantage comes with a trade-off. The shorter repayment schedule means your monthly payment will be significantly higher than what you’d pay on a 30-year mortgage. Consider the following comparison on a $400,000 loan:
| Feature | 15-Year Fixed | 30-Year Fixed |
|---|---|---|
| Interest Rate | 5.69% | 6.35% |
| Monthly Payment (Principal & Interest) | $2,647 | $1,991 |
| Total Interest Over Life of Loan | $156,468 | $396,816 |
| Total Cost of Loan | $476,468 | $716,816 |
As this comparison demonstrates, while the monthly payment on a 15-year mortgage is $656 higher per month, you’ll save over $240,000 in total interest costs. If you can handle the higher monthly payment, a 15-year mortgage might represent a more attractive option than a longer-term loan, especially when considering long-term wealth building and interest savings.
Current 15-Year Mortgage Rates by Product
The following table shows the most current mortgage rates available as of Saturday, November 29, 2025, at 6:30 AM:
| Product | Interest Rate | APR |
|---|---|---|
| 30-Year Fixed Rate | 6.25% | 6.31% |
| 15-Year Fixed Rate | 5.60% | 5.69% |
| 15-Year Refinance Rate | 6.04% | 6.10% |
| 20-Year Fixed Rate | 6.23% | 6.28% |
| 10-Year Fixed Rate | 6.41% | 6.44% |
Is a 15-Year Mortgage Right for You?
A 15-year mortgage might be an excellent option if you want to retire mortgage-free. Locking in the shorter duration of a 15-year mortgage now, especially if you’re in your 40s or 50s, potentially allows you to pay it off by the time you plan to stop working. This strategy provides significant peace of mind and financial security during retirement years.
Additionally, the monthly payments on a 15-year mortgage refinance won’t necessarily be much higher than you’re already paying on an existing mortgage. This can be especially compelling if your credit score has improved significantly since you originally took out your loan, or if you want to refinance out of an FHA mortgage and its steep mortgage insurance premiums.
Another consideration is your position in your existing mortgage. Many borrowers don’t keep loans this long, but if you’re at the halfway point of a 30-year loan, the time could be right for refinancing to a 15-year one. The remaining balance and current rate differential should be carefully analyzed with your lender.
Understanding Rate Shifts and Historical Context
Keep in mind that rates have shifted dramatically over the past few years. If you bought your home in 2021 and scored a rate below 4 percent—or even 3 percent—today’s rates at 5.60-5.69% will certainly look more daunting. However, current rates represent a stabilization after the significant increases seen in recent years, and they remain within reasonable ranges for long-term borrowing.
In general, 15-year mortgages have higher monthly payments due to the shorter term. However, depending on the balance of your current loan and how much lower you can cut your rate through refinancing, your monthly payment might not increase as much as you think it will—or potentially not at all. Some borrowers find that the interest savings and equity-building benefits of a shorter mortgage outweigh the higher monthly payment.
Shopping for the Best 15-Year Mortgage Rates
Whichever type of mortgage or refinance you pursue, shopping around for rates and comparing offers is critical. Don’t focus solely on the interest rate; examine the complete picture including lender fees, closing costs, customer service reviews, and loan terms. Different lenders often offer substantially different deals, even within the same market conditions.
The Bankrate 28 percent and 36 percent rules provide helpful guidance: no more than 28 percent of your gross income should go toward a mortgage payment each month, and no more than 36 percent of your gross monthly income should go toward all monthly debt payments. These benchmarks help ensure you’re taking on an affordable mortgage that fits comfortably within your overall financial picture.
Frequently Asked Questions
Q: How do 15-year mortgage rates compare to 30-year rates?
A: 15-year mortgage rates are typically about 0.5-0.75% lower than 30-year rates. Currently, 15-year rates average around 5.60-5.69% while 30-year rates are around 6.25-6.35%, depending on market conditions and individual lender offerings.
Q: What’s the difference between mortgage interest rate and APR?
A: The interest rate is the percentage of the principal you pay annually in interest. The APR (Annual Percentage Rate) includes the interest rate plus other costs associated with the loan, such as origination fees and points, providing a more complete picture of the loan’s true cost.
Q: Should I refinance my 30-year mortgage to a 15-year mortgage?
A: Refinancing to a 15-year mortgage could make sense if you’re past the midpoint of your current loan, your credit has improved significantly, you can afford the higher monthly payment, and you want to be mortgage-free by retirement. Calculate the break-even point and compare total interest costs before deciding.
Q: How much can I save by choosing a 15-year mortgage?
A: On a $400,000 loan, a 15-year mortgage at 5.69% would save you approximately $240,000 in total interest compared to a 30-year mortgage at 6.35%. Your specific savings depend on loan amount, rates, and terms.
Q: Where can I find the best 15-year mortgage rates?
A: Compare personalized rates from multiple lenders including banks, credit unions, and online mortgage companies. Bankrate’s comparison tools allow you to see offers from top lenders and compare rates, APRs, and fees side-by-side to find the best deal for your situation.
References
- Compare Current 15-Year Mortgage Rates — Bankrate. 2025-11-29. https://www.bankrate.com/mortgages/15-year-mortgage-rates/
- Today’s 15-Year Refinance Rates — Bankrate. 2025-11-29. https://www.bankrate.com/mortgages/15-year-refinance-rates/
- 15-Year vs. 30-Year Mortgage: Which Is Right For You? — Bankrate. 2025-11-29. https://www.bankrate.com/mortgages/15-vs-30-year-mortgage/
- Compare Current Mortgage Rates for Today — Bankrate. 2025-11-29. https://www.bankrate.com/mortgages/mortgage-rates/
- Current Refinance Rates – Compare Rates Today — Bankrate. 2025-11-29. https://www.bankrate.com/mortgages/refinance-rates/
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