When considering a mortgage that will last 15 or 30 years of your life you should be able to understand all the options you have. Use our 15 year mortgage vs 30 year mortgage calculator to compare the benefits of having a longer versus shorter loan term.

Current Interest Rates Texas Current FHA Mortgage Rates in Texas : HSH.com’s FHA/VA Showcase. Rate/APR terms offered by advertisers may differ from those listed above based on the creditworthiness of the borrower and other differences between an individual loan and the loan criteria used for the hsh quotes. annual.Home Refinance Rates 15 Year Fixed 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.

30-year fixed-rate mortgage averages 3.75% for the week ending July. iShares U.S. Home construction etf (nyse:itb) rises 2.0%. 15-year FRM averages 3.18% vs. 3.23% in the prior week and 4.02% at.

One of the major differences in a 15 vs. 30 year mortgage is the interest rate. Since a 15 year mortgage means the bank will be getting its money back so much sooner, they’re able to charge a smaller interest rate – often anywhere from a quarter of a percent to a full percent less.

A 15-year mortgage is designed to be paid off over 15 years. A 30-year mortgage is structured to be paid in full in 30 years. The interest rate is lower on a 15-year mortgage, and because the term.

After holding steady for a month, mortgage. 4.54 percent a year ago. In less than a year, the 30-year fixed rate has fallen more than 125 basis points. (A basis point is 0.01 percentage point.) It.

the 30-year FRM average was at 4.38%. “The combination of cooling inflation and slower global economic growth led mortgage rates to drift down to the lowest levels in a year," says Freddie Mac Chief.

A 15-year fixed-rate mortgage allows you to pay off the loan in half the time will cost you less interest over the course of the loan, but in the short-term requires higher monthly mortgage payments. On the other hand, a 30-year fixed-rate mortgage can be a great option with lower monthly mortgage payments, but there will be more interest over that length of time.

WASHINGTON (AP) U.S. long-term mortgage rates held steady this week, offering a potential boon to homebuyers amid an uncertain economic outlook. Mortgage rates have been running near historic lows,

Check out the mortgage rates charts below to find 30-year and 15-year mortgage rates for each of the different mortgage loans U.S. Bank offers. If you decide to purchase mortgage discount points at closing, your interest rate may be lower than the rates shown here.