Current 15-year mortgage rates

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Bankrate's lowest 15-year rates for Oct. 23, 2021

Today's national 15-year mortgage rate trends

For today, Saturday, October 23, 2021, the national average 15-year fixed mortgage APR is 2.700%, up compared to last week’s of 2.650%. The national average 15-year fixed refinance APR is 2.620%, up compared to last week’s of 2.580%.

Whether you're buying or refinancing, Bankrate often has offers well below the national average to help you finance your home for less. Compare rates here, then click "Next" to get started in finding your personalized quotes.

We’ve determined the national averages for mortgage and refinance rates from our most recent survey of the nation’s largest refinance lenders. Our own mortgage and refinance rates are calculated at the close of the business day, and include annual percentage rates and/or annual percentage yields. The rate averages tend to be volatile, and are intended to help consumers identify day-to-day movement.

Here's how it works:

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Today's 15-year mortgage rates

The table below brings together a comprehensive national survey of mortgage lenders to help you know what are the most competitive 15-year mortgage rates. This interest rate table is updated daily to give you the most current rates when choosing a 15-year fixed mortgage loan.

Product Interest Rate APR
30-Year Fixed Rate 3.190% 3.350%
20-Year Fixed Rate 3.040% 3.200%
15-Year Fixed Rate 2.460% 2.700%
10/1 ARM Rate 3.080% 4.040%
7/1 ARM Rate 2.910% 3.820%
5/1 ARM Rate 2.800% 3.930%
30-Year VA Rate 2.820% 2.990%
30-Year FHA Rate 2.720% 3.590%
30-Year Fixed Jumbo Rate 3.180% 3.280%
15-Year Fixed Jumbo Rate 2.470% 2.530%
7/1 ARM Jumbo Rate 3.060% 3.660%
5/1 ARM Jumbo Rate 2.910% 3.600%

at 6:30 AM

Top 5 Bankrate 15-year mortgage lenders

  • Better.com – Best online lender
  • AmeriSave Mortgage Corporation – Best for refinancing
  • HSBC Bank – Best bank lender
  • Reliant Home Funding – Best non-bank lender
  • Cardinal Financial Company – Best for low-credit score borrowers

Methodology

Bankrate helps thousands of borrowers find mortgage and refinance lenders every day. To determine the top mortgage lenders, we analyzed proprietary data across more than 150 lenders to assess which on our platform received the most inquiries within a three-month period. We then assigned superlatives based on factors such as fees, products offered, convenience and other criteria. These top lenders are updated regularly.

Better.com – Best online lender

Better.com, also known as Better Mortgage, is an online mortgage lender, ranked one of Bankrate’s best mortgage lenders overall and best online lenders, and available in the majority of states in the U.S.

Strengths: With Better.com, you can get rate quotes in seconds and preapproved for a 15-year or other type of mortgage in as little as three minutes. Its proprietary technology speeds up the process for borrowers and automatically applies discounts, if available, to maximize your savings on a 15-year loan. The lender doesn’t charge any fees, either.

Weaknesses: Better.com doesn’t offer VA or USDA loans, and doesn’t have branch locations, which can be a downside if you’d rather meet with a loan officer in-person.

Read Bankrate's Better.com mortgage review

AmeriSave Mortgage Corporation – Best for refinancing

AmeriSave Mortgage Corporation is an online lender, licensed in almost every state, that offers 15-year fixed-rate mortgages and several other loan types. It was named one of Bankrate’s top online lenders and best FHA lenders this year.

Strengths: Among the perks of its website, AmeriSave Mortgage Corporation offers a historical look at its 30- and 15-year fixed (and seven-year adjustable) rate trends.

Weaknesses: The lender charges a $500 non-refundable application fee.

Read AmeriSave Mortgage Corporation review

HSBC Bank – Best bank lender

HSBC Bank is a bank and lender with approximately 200 locations across the U.S. and an extensive global footprint. The bank offers a multitude of mortgage products, including 15-year fixed-rate loans.

Strengths: HSBC Bank displays interest rates and APRs on its website, which can make it easy to do comparisons. The bank also participates in several low-down payment loan and assistance programs.

Weaknesses: You can only apply by phone or by visiting a branch (though you can start the prequalification process online), and mortgage products aren’t available in Alaska or West Virginia.

Read Bankrate's HSBC Bank reviews

Reliant Home Funding – Best non-bank lender

Reliant Home Funding is a mortgage lender headquartered in Melville, New York, offering loans in New York and a few other states.

Strengths: Reliant Home Funding’s 1st Approve program grants conditional approvals, completed by an underwriter, to prevent the issues that can arise with a preapproval in which the lender hasn’t fully assessed the borrower.

Weaknesses: If you’re outside of Colorado, Connecticut, Florida, New Jersey, New York or Pennsylvania, you’ll have to shop elsewhere for a mortgage.

Read Bankrate's Reliant Home Funding reviews

Cardinal Financial Company – Best for low-credit score borrowers

Cardinal Financial Company, which also does business as Sebonic Financial, makes mortgages in all 50 states, including both fixed- and adjustable-rate loans ranging from 10- to 30-year terms.

Strengths: Cardinal Financial has closed loans in as few as seven days (but the typical timeline is 30 days), and can accept credit scores as low as 620 for a conventional loan, 580 for an FHA or USDA loan, 550 for a VA loan and 660 for a jumbo loan. This can be ideal if your credit needs some work.

Weaknesses: If you’re hoping to compare Cardinal Financial’s 15-year mortgage rates with those of other lenders, you’ll have to contact the lender directly; this information isn’t listed on its website.

Read Bankrate's Cardinal Financial Company mortgage review

15-year mortgage rates FAQ


  • Refinancing into a 15-year mortgage

    If you have a 30-year mortgage and are more than halfway through your loan term, refinancing into a 15-year loan with a lower rate can save you thousands in interest. In general, 15-year mortgages have higher monthly payments due to the shorter term — but, depending on how much lower you can cut your rate and the balance of your current loan, your monthly payment might not increase as much as you think it will, or at all.

    Whichever type of refinance you pursue, be sure to shop around for rates and compare offers, including lender fees.

    Written by: Jeff Ostrowski, senior mortgage reporter for Bankrate

    Jeff Ostrowski covers mortgages and the housing market. Before joining Bankrate in 2020, he wrote about real estate and the economy for the Palm Beach Post and the South Florida Business Journal.

    Read more from Jeff Ostrowski

    Reviewed by: Greg McBride, chief financial analyst for Bankrate

    Greg McBride, CFA, is Senior Vice President, Chief Financial Analyst, for Bankrate.com. He leads a team responsible for researching financial products, providing analysis, and advice on personal finance to a vast consumer audience.

    Read more from Greg McBride


    Learn more about specific loan type rates
    Loan Type Purchase Rates Refinance Rates
    The table above links out to loan-specific content to help you learn more about rates by loan type.
    30-Year Loan 30-Year Mortgage Rates 30-Year Refinance Rates
    20-Year Loan 20-Year Mortgage Rates 20-Year Refinance Rates
    15-Year Loan 15-Year Mortgage Rates 15-Year Refinance Rates
    10-Year Loan 10-Year Mortgage Rates 10-Year Refinance Rates
    FHA Loan FHA Mortgage Rates FHA Refinance Rates
    30-Year FHA Loan 30-Year FHA Loan Rates 30-Year FHA Refinance Rates
    VA Loan VA Mortgage Rates VA Refinance Rates
    ARM Loan ARM Mortgage Rates ARM Refinance Rates
    5/1 ARM 5/1 ARM Rates 5/1 Refinance Rates
    7/1 ARM 7/1 ARM Rates 7/1 Refinance Rates
    10/1 ARM 10/1 ARM Rates 10/1 Refinance Rates
    Jumbo Loan Jumbo Mortgage Rates Jumbo Refinance Rates
    30-Year Jumbo Loan 30-Year Jumbo Loan Rates 30-Year Jumbo Refinance Rates

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