15-Year Fixed Loan What is a 15-year fixed-rate mortgage? A 15-year fixed-rate mortgage is often preferred by borrowers who wish to pay off the mortgage faster, typically a 15-year fixed mortgage has lower interest rates over a 30-year fixed mortgage.
Rates and program information are deemed reliable but not guaranteed. Rates on this page are based on the purchase of a single-family, single-unit, detached, primary residence located in Richmond, VA (home of SunTrust Mortgage, A Division of SunTrust Bank). Rates also assume a 30 day lock and are subject to change without prior written notice.
Current Interest Rate Fha Loan HUD.gov / U.S. Department of Housing and Urban Development (HUD) – FHA Mortgage insurance single-family 30-year fixed interest rates May 2013 The average interest rates table presents fha-insured single family 30-year fixed rate home mortgages between 1992 and the present, by endorsement month and the number of cases. These estimates are intended to portray a pattern of the rising or falling of FHA single.
A 15-year fixed-rate mortgage maintains the same interest rate and monthly payment over the 15-year loan period. The 15 year fixed-rate mortgage allows the borrower to pay off the mortgage faster and typically has a low interest rate. But monthly payments are usually higher than with other mortgages.
PURCHASE – START HERE. Our 15-Year Fixed Rates Are Low & Our Process is Quick & Painless. The traditional 15-year fixed-rate mortgage has a constant interest rate and monthly payments that never change. This may be a good choice if you plan to stay in your home for seven years or longer.
. isn’t identical to a getting a shorter mortgage because the interest rate on your 30-year mortgage will be slightly higher. Instead of 3.08% for a 15-year fixed mortgage, for example, a 30-year.
HSH’s Fixed-Rate Mortgage Indicator (FRMI) averages 30-year mortgages of all sizes, including conforming, expanded conforming, and jumbo. The FRMI has been published as a continuous series since the early 1980s. Separate statistical series for conforming and jumbo loans have long been available to HSH clients.
The average rate on the 30-year fixed-rate home loan – the most. according to the Mortgage Bankers Association. Rates on other types of home loans – jumbo, FHA, 15-year and 5/1 adjustable-rate -.
Todays Fha Mortgage Rate FHA mortgage rates hew closely to the mortgage rates on traditional home loans. If the average interest rate on a 30-year fixed-rate mortgage stands at 5.4 percent, you can figure that the average FHA mortgage rate is nearly the same. This makes these loans even more attractive.
According to the Mortgage Bankers. The effective rate increased from last week. The average contract interest rate for.
No matter the interest rate, borrowers begin to build equity faster with a 15-year mortgage compared with a 30-year mortgage. When you take out a 15-year loan at 3.25%, 61% of the first payment goes to paying down your principal.