What is 15-year fixed?
The Bankrate.com financial term of the day is: "15-year fixed."
A 15-year fixed is a mortgage that you carry for a relatively short, 15-year term, and you don't have to worry about the interest rate going anywhere during that time. It will stay the same during the lifetime of the loan.
A 15-year fixed is a mortgage that's short on years and short on surprises.
To shop for the perfect home loan, visit the Mortgage section at Bankrate.com.