Log in|Sign Up Mortgage Rates Widget Loans Home Equity News Credit Cards Mortgage Calculators CDs & Rates Mortgage Lenders Compare Mortgage Rates Type of Loan: Mortgage Refinance Debt Consolidation Home Purchase Home Equity Home Description: Single Family Condominium Townhouse Multi Family Mobile Home Manufactured Home Your Credit Profile: Excellent (720+) Good (680-719) Fair (640-679) Poor (639 or less) Choosing Between a 15 or 30 Year Mortgage January 28, 2016 - A lot of people ask whether a 15 or 30 year mortgage is best and we’re here today to share some important facts about each mortgage type. Once you’ve learned the definition of each mortgage, you’ll be able to compare and contrast them more effectively. We hope to empower you as a borrower by giving you the ability to choose the mortgage which is just right for your own particular financial picture. More ► UPDATED 2996 DAYS AGO Fed’s Decision Should Push Mortgage Rates Down For Now In an economic environment that has been slow to recover since officially coming out of the recession in June 2009, the Federal Reserve’s bond-buying program has been a driving force in pushing interest rates down to historic level. In early May, rates on a 30-year fixed mortgage dipped to 3.35 percent. At the end of the month the average rate increased to 3.81 percent. When the Fed announced that it would likely begin trimming the bond-buying program later this year, worried bond investors took bond market went into a state of flux. This uncertainty in the market propelled mortgage interest rates into an upward trajectory anticipating changes in the program. Today, the average interest rate is around 4.5 percent. The hike in interest rates adds an extra $132 per month for a borrower with a $200,000 30-year, fixed rate home loan. More ► UPDATED 2984 DAYS AGO Consumer and Veterans: Be Aware of Mortgage Traps and Scams At the beginning of the year, lenders begin lowering the underwriting standards for prime mortgages. These loans are made to borrowers with AAA credit. The loans have the least chance of default and carry the lowest interest rates. The Federal Reserve released data that shows the move by lenders spurred demand for prime loans by eligible borrowers. It’s only in the last few months that lenders have begun to relax the draconian lending criteria put in place after the housing market crisis for borrowers with blemished credit profiles have found it easier to qualify for loans, according to the mortgage origination software firm Ellie Mae. More ► Latest Mortgage News Consumer and Veterans: Be Aware of Mortgage Traps and Scams Fed’s Decision Should Push Mortgage Rates Down For Now Mortgage Refinancing and Home Buyers Await Fed Decision Tips for How and When to Refinance Your Mortgage New Mortgage Plan to Dismantle Mortgage Giants Fannie Mae and Freddie Mac Navigating Up and Down Mortgage Interest Rates All-Cash Sales Strong in Residential Markets Nationwide Fewer Foreclosures As Housing Market Continues Its Recovery Streamlined Modification Initiative: Reduce Interest Rate and Monthly Payment Largest One-Week Rate Hike in 26 years; Tips for Refinancing or Buying New Homes Median Price up 12% at 5-year High; Housing Market Showing Strength Mortgage Refinance Applications About To Increase – Rates Are Going Down See All Latest Mortgage News MARKETPLACE ADVERTISMENT Your Credit Score See it now $0 Certificate of Deposit Rates Compare Best Credit Card Rates Mortgage News New Mortgage Plan to Dismantle Mortgage Giants Fannie Mae and Freddie Mac All-Cash Sales Strong in Residential Markets Nationwide Streamlined Modification Initiative: Reduce Interest Rate and Monthly Payment Higher Appraisal Valuations Stimulating the Housing Market Qualify for a VA Loan after Foreclosure Credit Cards Credit Cards Application Process The CARD Act Mortgage Refinance Mortgage Refinancing and Home Buyers Await Fed Decision Tips for How and When to Refinance Your Mortgage Mortgage Refinance Applications About To Increase – Rates Are Going Down 15 Year Mortgage Refinance Rates Today Are Ridiculously Low Demand in Mortgage Refinance Advances Applications Home Buying New Homes Median Price up 12% at 5-year High; Housing Market Showing Strength How Much Home Can You Afford? Most Existing Home Sales Since November 2009 Homes Prices: Biggest Increase Since Housing Bubble Burst Big Investors Dominating Residentia Foreclosure and Bankruptcy Fewer Foreclosures As Housing Market Continues Its Recovery Foreclosure Activity Levels the Lowest Since Housing Crash Mortgage Settlement Payouts to Start on Friday Foreclosures Drop to 5-Year Low, Caution Remains Homeowners Hurt By "Zombie Foreclosure" Debt after Walking Away Debt Consolidation Spending Up, While Consumer Debt Drops Debt Consolidation Through Mortgage Refinance While Rates are Low Debt Consolidation Guide Debt Consolidation Refinance Benefits Current Interest Rates Mortgage Home Equity Auto CDs Credit Cards PRODUCT +/- Rate Last week 30 year fixed 4.09% 4.16% 15 year fixed 3.25% 3.30% 5/1 ARM 3.28% 3.36% Rate disclaimer View rates in your area: Zip Code Mortgage Calculators Mortgage Refinance Calculator Which Loan Is Better Calculator Mortgage Payment Calculator Additional Payment Mortgage Calculator Interest Only Mortgage Calculator Tax Savings Mortgage Calculator Rent vs Buy Mortgage Calculator Mortgage Length and Term Calculator Mortgage Principal Calculator Standard vs BiWeekly Mortgage Calculator Interest Only With Additional Payment Mortgage Calculator Debt Consolidation Mortgage Calculator Mortgage Points Calculator Cash-Out Mortgage Refinance Calculator Mortgage Affordability Calculator APR Mortgage Calculator Mortgage Calculator Widget Mortgage Basics Learn the basics through our comprehensive guides to popular topics related to Mortgage and Personal Finance: Adjustable Rate Mortgage - ARM American Opportunity Tax Credit - AOTC Buying a Home Buying a Car & Car Loans College Financing Credit Rating Credit Scores and Reports Debt Consolidation Debt Consolidation Refinance Debt Relief Programs and Benefits Debt Settlement Fixed Rate Mortgage Loans FHA Loans Home Equity Loans Home Equity Line of Credit Home Improvement Loan Home Mortgage Home Refinance Improve FICO Credit Score LTV Mortgage Refinance With Cash Out Mortgage Brokers & Lenders Mortgage Rates Mortgage Refinance Mortgage Refinance Options What is Amortization? Mortgage Brokers & Lenders Directory You can search our directory or Mortage Brokers & Lenders and get a current quote on 30 year fixed mortgage rates as well as current mortgage interest rate for other loan programs. 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