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Compare Today's 15-Year Fixed Refinance Rates

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Applied Filters: Good (720-739), 15-year fixed, Single family home, Primary residence, cash-out.

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15-year fixed

EXPLORE QUOTE

Farmers Bank of Kansas City: NMLS#613839

Lowest APR

Lowest monthly payment

Great for Rate transparency

Conventional 15-year fixed

4.5

NerdWallet rating

APR

6.046%

Interest rate

Mo. payment

$2,954

Insurance $0

Total fees

$1,036

About this lender

Visit lender's website

Pros

Displays customized rates, with fee estimates, without requiring contact information.
Offers home equity loans and lines of credit.
Mortgage origination fees are on the low side compared to other lenders, according to the latest federal data.

Cons

Doesn’t offer government-backed FHA or USDA loans, or adjustable-rate mortgages.
Home renovation loans are not available.
Mortgage rates are on the high side compared to other lenders, according to the latest federal data.

EXPLORE QUOTE

Central Bank: NMLS#407985Conventional 15-year fixed

4.0

NerdWallet rating

APR

7.027%

Interest rate

6.99%

Mo. payment

$3,144

Insurance $0

Total fees

$804

About this lender

Visit lender's website

Pros

Among the best when it comes to online convenience.
Offers a full selection of mortgage types and products, including jumbo, home equity, and government loans.
Claims to offer preapproval within 24 hours of loan application.

Cons

You'll have to complete a loan application to see mortgage interest rates.
Bank branch locations limited to the Midwest.
Does not offer home equity lines of credit.

EXPLORE QUOTE

Northpointe: NMLS#447490Conventional 15-year fixed

4.0

NerdWallet rating

APR

7.05%

Interest rate

Mo. payment

$3,146

Insurance $0

Total fees

$1,080

About this lender

Visit lender's website | Call (866) 356-0885

Pros

A full slate of loan offerings.
Offers a no-down-payment loan with a shorter repayment term that helps accelerate home equity accumulation.
Digital conveniences include a mobile app.

Cons

You’ll need to provide contact information or speak to a loan officer for customized mortgage rates.
Origination fees are on the high side, according to the latest data.

EXPLORE QUOTE

NBKC: NMLS#409631

Great for first-time home buyers | digital convenience | customer service

Conventional 15-year fixed

5.0

NerdWallet rating

APR

7.062%

Interest rate

6.99%

Mo. payment

$3,144

Insurance $0

Total fees

$1,554

About this lender

Visit lender's website | Call (888) 871-2381

Pros

Displays customized rates, with fee estimates, without requiring contact information.
Efficient customer service over the phone or through online chat.

Cons

Physical branches are limited to the Kansas City metro area.

About These Rates: The lenders whose rates appear on this table are NerdWallet’s advertising partners. NerdWallet strives to keep its information accurate and up to date. This information may be different than what you see when you visit a lender’s site. The terms advertised here are not offers and do not bind any lender. The rates shown here are retrieved via the Mortech rate engine and are subject to change. These rates do not include taxes, fees, and insurance. Your actual rate and loan terms will be determined by the partner’s assessment of your creditworthiness and other factors. Any potential savings figures are estimates based on the information provided by you and our advertising partners.

Trends and Insights

Mortgage rate trends (APR)

NerdWallet’s mortgage rate insight

6.819%

30-year fixed-rate

“

On Tuesday, July 9, 2024, the average APR on a 30-year fixed-rate mortgage fell 6 basis points to 6.819%. The average APR on a 15-year fixed-rate mortgage rose 1 basis point to 6.081% and the average APR for a 5-year adjustable-rate mortgage (ARM) fell 2 basis points to 7.675%, according to rates provided to NerdWallet by Zillow. The 30-year fixed-rate mortgage is 25 basis points lower than one week ago and 21 basis points lower than one year ago.

A basis point is one one-hundredth of one percent. Rates are expressed as annual percentage rate, or APR.

Current mortgage and refinance rates

Accurate as of 07/09/2024

Product	Interest Rate	APR
30-year fixed-rate	6.741%	6.819%
20-year fixed-rate	6.493%	6.586%
15-year fixed-rate	5.949%	6.081%
10-year fixed-rate	5.645%	5.810%
7-year ARM	6.910%	7.612%
5-year ARM	6.651%	7.675%
3-year ARM	8.125%	8.355%
30-year fixed-rate FHA	5.974%	6.746%
30-year fixed-rate VA	5.878%	6.258%

A Beginner’s Guide to Refinancing a 15-YR Mortgage

Last updated on November 13, 2023

Reviewed by

Reviewed by

What is a 15-year fixed-rate mortgage?

A 15-year fixed-rate mortgage is a home loan that has the same interest rate and monthly principal-and-interest payment over the 15-year loan period. 15-year mortgages can be used to buy a home or to refinance an existing home loan.

15-year mortgages usually have lower interest rates than 30-year mortgages, but the monthly payments tend to be higher because borrowers repay the money in half the time. Because borrowers pay off 15-year mortgages faster, they’ll pay less interest over the life of the loan. This feature makes them popular for refinancing out of a 30-year purchase mortgage.

» MORE: Pros and cons of a 15-year fixed mortgage

How to find current 15-year refinance rates

NerdWallet's mortgage rate tool can help you find competitive 15-year fixed mortgage rates. In the filters above, enter a few details about the loan you're looking for, and you can see rate quotes without providing any personal information.

15-year mortgage rates vary by lender

Each lender offers its own combination of interest rate and fees, so you can save money by comparison shopping and applying with multiple lenders.

After you submit complete mortgage applications, each lender will provide you with a Loan Estimate form. This will let you compare interest rates, origination fees and closing costs and give you confidence that you’re getting the right loan for your situation.

Mortgage rates vary daily and are influenced by the economy’s overall rate of growth, the inflation rate and the health of the job market. Unpredictable events can affect all of those factors. NerdWallet’s mortgage interest rates forecast gives a snapshot of current trends, along with a forecast for the month.

Is it worth refinancing to a 15-year mortgage?

It’s worth checking out 15-year refinance rates if you can afford the monthly mortgage payment, which will be higher than that of a 30-year loan.

You will build home equity faster with a 15-year mortgage than with a 30-year mortgage, and you’ll pay less interest over the life of the loan. The higher monthly payments could squeeze your household budget, though.

» MORE: Estimate what you could save with our refinance calculator