One common type of mortgage is a conventional loan with a 15-year fixed interest rate. With a fixed rate, your rate and monthly payment will stay the same throughout the life of the loan.

Note that rates on 15-year mortgages tend to be lower than rates on 30-year loans, but higher than rates on 10-year loans. The current average rate on a 15-year refinance is 6.75% compared to the ...

A 15-year mortgage means larger monthly payments, but a lower interest rate. A 30-year mortgage offers a more affordable monthly payment, but you’ll pay more in interest. Over time, a 30-year ...

Rates for new 30-year loans dropped again, building a three-day decline from what had been a six-week high. Rates rose for ...