One common type of mortgage is a conventional loan with a 15-year fixed interest rate. With a fixed rate, your rate and monthly payment will stay the same throughout the life of the loan.
Note that rates on 15-yearmortgages tend to be lower than rates on 30-year loans, but higher than rates on 10-year loans. The current average rate on a 15-year refinance is 6.75 ...
If you can afford the higher monthly payments, a 15-year fixed mortgage allows you to pay off your home loan faster at a lower interest rate. Alix is a former CNET Money staff writer. She also ...
The rate rose to 7.04% from 6.93% last week, mortgage buyer Freddie Mac said Thursday. A year ago, it averaged 6.6%. It has risen for five straight weeks. Borrowing costs on 15-year ...