Mortgage comparison: 15-year vs. 30-year Overview. The two most popular fixed-rate mortgages are the 15-year and 30-year fixed-rate mortgages. There are pros and cons to choosing each type of mortgage and it really boils down to your own personal financial situation.

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.

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Interest Rates 10 Year Mortgage 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.

A 15-year mortgage will save you money in the long run because interest payments are drastically reduced since you’re paying only 15 years’ worth of interest versus 30 years. The second major.

If you already paid five years on the loan, a 15-year mortgage would raise your monthly payment to. Refinancing your mortgage can get you a lower interest rate and shorten the term of the mortgage.. 30 Years vs 15 Years of Payments.

Do you know the real differences between a 15 and a 30 year mortgage? Which one should someone choose if they are moving in 5 years anyway? Doesn’t making extra payments just make a 30 year onto a.

. Freddie Mac said Thursday that the average rate on the 30-year loan slipped to 3.55% this week from 3.60% last week. The rate stood at 4.51% a year ago. The average mortgage rate for 15-year,

2015-04-20  · A bewildering variety of mortgages may be available, but for most homebuyers, in practice, there is only one. The 30-year fixed-rate mortgage is.

15-year vs 30-year Mortgage. The 15-year and 30-year fixed-rate mortgages are the two most popular fixed-rate mortgages. While there are pros and cons to choosing each type of mortgage, it really comes down to your financial situation and long-term goals.

One of the biggest decisions you’ll have to make with selecting a mortgage involves weighing the pros and cons of a 15-year and 30-year mortgage.. a 30-year (fixed-rate) loan at the going.

PSA: Why itFor example, based on the current average interest rates, you can expect to pay roughly $1,420 per month on a $200,000 15-year mortgage, while the payment on a 30-year loan of the same amount would.

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